A New Mission
In Oakland, California, the gang known as the Jadoo are running rampant in the streets. After taking out a former member who defected, they run down a kid's uncle as they were crossing the street in their stolen car. They turn around to finish him off, but the uncle leads them away from the kid by running into a nearby abandoned building. As the Jadoo pursue, one of them breaks off and tries to call for some help. Finding only a busted payphone, he finds the kid and gets him out of there as his uncle plummets to his death trying to jump across the rooftops.
The next day the kid heads down to the tunnels where Eddie Brock resides in a city under San Francisco. He tells him what happened and hands him the note the Jadoo gave him. Brock learns that he's actually a reporter named Gray Russell and he's looking to be saved from killing as part of his initiation into the gang. Venom suits up and takes up the task.
Meanwhile, the Punisher leaves L.A. for home, but listening to the police band about rising gang violence has him making a detour towards Oakland. There, in the Jadoo's base, Gray reminisces about what got him in this situation. His dad apparently worked for Hydra and operated out of a secret lab located somewhere in the building being used by the Jadoo, which is why he had to join the gang to find it and make a name for himself as a journalist. He arranged for some actors to jump a lone Jadoo member so he could save him and be admitted. Now, he was going to have to kill to become a full member or be killed.
Venom arrives in Oakland just in time to see Punisher going medieval on gang members in the street. Venom tries to reason with Punisher, telling him about the reporter he's trying to rescue, but Punisher refuses to listen. A fight ensues. Venom, of course, takes Punisher down but is forced to abandon him as his actions against the bangers have caused a gang war in the streets.
Meanwhile, the Jadoo are gearing up to join in as Gray finds the lab he was searching for. However, he's soon dragged out to the fight by a fellow banger. Punisher's van enters the area and Venom decides to take him down once and for all, only to get a massive dose of ultrasonics from it. Punisher locks him in a building's front gate with the sonics trained on him, weakening him. Meanwhile, his mission is about to be failed.
The Birth of Pyre
Venom, through sheer force of will, snakes a tendril through the sewers to get inside the battle van and destroy the systems inside. Without the sonics, Venom reforms and takes his revenge out on it before remembering his mission and swinging off to find his innocent.
While both Venom and Punisher interrogate bangers for their own purposes, time runs out as Gray is forced to take part in a drive-by shooting. Eventually, Venom finds Punisher again and reluctantly projects his symbiote on him to save him from being shot from behind. This places Punisher in Venom's debt, but all Venom wants is the protection of his charge.
The Jadoos return to their base to regroup and redeploy, but Gray runs to hide inside lab he found. Venom and Punisher close in and storm on the Jadoos' base, prompting Gray to try and use the equipment Hydra was building to create their own super soldier to try and give himself powers as protection against the Punisher. Gray gains microwave energy powers and uses it to blast at Punisher and misses. He has better aim against one of the Jadoo and against Venom when he reveals he's there to save him. Venom was late, and now PYRE was gonna get his revenge.
Venom and Punisher vs Pyre
Russell, calling himself Pyre, is able to keep Venom at bay and the Punisher is no match for that kind of power. Both manage to retreat; Venom to another section of the warehouse and Punisher to his van. Once there, Punisher patches up his wounded leg and consults his partner Microchip on a way to take Pyre down.
Meanwhile, Venom keeps his distance as best as he can until Punisher crashes through in his van and hits Pyre with the beam modified with Micro's instructions. Unfortunately, he failed to notice the computer screen alerting him to an error with the beam, making it not stop Pyre but cause things to ignite on fire around him.
Venom tries one final effort to save Pyre, but realizes he must stop him by slamming a unit hanging above down on his legs. Even still, Venom attempts to rescue him but the fire spreads too quickly and engulfs the area. Venom is forced to flee while Pyre burns. Enraged, Venom seeks to take it out on Punisher but with the arrival of the cops vengeance had to be put on hold. They part ways, leaving the site of Pyre's death...or, was it?