GE Ventures is seeking a buyer for its portfolio companies to offset its parent General Electric’s growing debt, CNBC reports. GE Ventures, which was founded in 2013, includes stakes in more than 100 startups in healthcare, energy, mobility, and enterprise technology. Talks about a sale have been going on for months and would include the entirety of GE Ventures portfolio, CNBC reports.
GE is in an uncomfortable position financially: The company is reportedly burning cash quickly, and has accumulated more than $100 billion in debt. In recent months, GE has spun out both its healthcare unit and a railroad company. This wouldn’t be the first time General Electric has parted ways with an investment branch. In 1987, it spun out Canaan Ventures, an early stage Silicon Valley firm focused on healthcare and technology.