General Electric (GE), a Boston-based firm, is looking for “strategic options” for GE Ventures, which is its corporate venture capital arm, a spokesperson from the company disclosed this week. CNBC, citing people known with the topic, reported this week that GE Ventures is hunting for a purchaser for its portfolio of over 100 startups. The report highlighted that for the last several months the venture arm was shopping itself. Now, to manage the process, the firm has appointed Lazard investment bank.
Regionally, GE Ventures is among the supporters of technology firms such as Catalant Technologies Inc, Desktop Metal, Morphisec, and Tamr. In 2018, GE Ventures also contributed to Iora Health’s $100 Million Series E. In an email to the Business Journal, a GE spokesperson stated that during this transformation time for GE, the firm is looking for tactical opportunities for GE Ventures to carry on offering profits for its shareholders and associates.
On a similar note, Lazard Ltd recently came into the news as it revealed Jean Pierre Zarouk as the Chairman of Lazard Brazil Investment Banking. The asset management company also disclosed that Antonio Pereira is appointed as a CEO and Managing Director, Lazard Brazil Investment Banking. The shifts, which will be effective without any delay, are supposed to position Lazard Brazil for the advanced stage of development, with a continued spotlight on high-quality advice for customers.
Peter Orszag, Chief Executive Officer, Lazard Financial Advisory, proclaimed that Brazil is one of the keystones of the firm’s South America investment banking network. He added that Jean Pierre has formed a strong team and client relationships network in the area. Further, he said, “We welcome Antonio to Lazard to further bolster our franchise.” Before joining Lazard, Mr. Pereira was working at Goldman Sachs as the Head of Investment Banking, Brazil, since 2016. In 1996, he started his career at Goldman Sachs, New York.