BP said Thursday that it would pay Devon Energy $7 billion for assets in Brazil, Azerbaijan and the Gulf of Mexico, and that the two firms would form a joint venture to develop an oil sands project in Alberta, Canada.

Raising money shouldn t cost startups so much money. At least that s the theory underlying the latest idea backed by former entrepreneurs-turned-venture capitalists Marc Andreessen and Ben Horowitz.

For venture capital firms, a mix of poor of investment returns and a tough economic environment has continued to dog the industry, resulting in an ongoing slide in fundraising, The Wall Street Journal reported.

With entrepreneurs in residence, venture capital firms in Silicon Valley host proven businesspeople, hoping for another successful start-up.

Silicon Valley start-up Bloom Energy on Wednesday unveiled a new fuel cell technology that can power buildings, positioning the energy generators as an alternative to the electricity grid.

Canada s Dundee real estate investment trust said it expects to raise C$100 million by selling Series A units and use the proceeds to fund acquisitions.

Intel to Invest in Start-Ups Intel announced an alliance with 24 venture-capital firms to invest $3.5 billion in U.S.-based technology companies over two years.

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Tis the season of games: Ngmoco, the SF-based mobile phone games developer focused on iPhone platform, has raised a big $25 million round of funding on its third round. The round was led by Institutional Venture Partners, along with the company s previous investors, including Kleiner Perkins Caufield & Byers, Norwest Venture Partners and Maples Investments.

SCOTTSDALE, Ariz.----Mayo Clinic is forming a new permanent professorship to augment cancer research that will focus on finding new treatments and preventive measures to reduce the incidence of cancer.