Tuesday, March 31, 2009

Google Launches New Venture Capital Fund

With our faltering economy venture capital funds have all but dried up. So it might comes a surprise that Google has decided to buck the trend and form a $100million VC fund.

Announced via the Official Google Blog earlier today, Google Ventures will be headed by Rich Miner, a co-founder of Android smart phone software that Google acquired in 2005, and Bill Maris founder of Web hosting pioneer Burlee.com. (Read their bios)
At its core, Google Ventures is charged with finding and helping to develop exceptional start-ups. We'll be focusing on early stage investments across a diverse range of industries, including consumer Internet, software, clean-tech, bio-tech, health care and, no doubt, other areas we haven't thought of yet. Central to our effort will be our fellow Googlers, whom we view as a critically important resource to help educate us about potential investments areas and evaluate specific companies.

Google Ventures, will be wholly owned by Google, but will operate as a separate entity from the companies normal search/web based operations. The new and will look to invest in early-stage start-up firms seeking investment opportunities to maximize returns rather than looking for investments that strictly fit with Google's strategic vision.

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