BP Ventures Asia and Middle East Managing Director Sophia Nadur exits

Sophia Nadur, managing director for Asia and the Middle East at oil major BP Ventures, has exited the firm, according to a person familiar with the matter.

Nadur shared the update on LinkedIn, saying she plans to build a portfolio of non-executive director and advisory roles.

“I am now stepping away from bp to build a portfolio of Non-Executive Director and strategic advisory roles — bringing 20+ years of experience across early-stage startups, private equity-backed scale-ups, and some of the world's most iconic companies to boards that want a NED or advisor who has been there, done it, and can help shape what comes next,” she said.

Nadur’s exit comes at a time when investor appetite for electric vehicle (EV) startups has weakened in India. She led BP Ventures’ investments in companies such as EV ride-hailing startup BluSmart, intercity bus platform Zingbus, and EV cargo logistics firm Magenta Mobility.

The CapTable reported last month that Magenta Mobility could face a shutdown if it fails to raise fresh capital in the coming months. The company has laid off a significant portion of its workforce and shut its Bengaluru office, its largest, as part of a shift in its business model.

Separately, BluSmart’s collapse has also put its board under scrutiny. The CapTable reported that there were concerns around potential conflicts of interest at the board level, including an independent director with direct business exposure to the company. Nadur was part of BluSmart’s board.

The broader funding environment for EV startups has cooled, with investors increasingly shifting focus to sectors such as artificial intelligence. “The appetite for EV fleet businesses has come down considerably among investors, even among traditional energy-backed funds,” said an investor in the space.

Globally, BP Ventures has backed startups across EV charging, fleet electrification and energy management, including companies such as StoreDot, FreeWire Technologies, Volta Charging, and Lightning eMotors. In Asia, including India, its investments have been more selective, with a focus on mobility and logistics, alongside participation from other energy-backed funds such as Shell Ventures.