Google prepares $100M VC arm
Google revealed more details about its plans to establish a $100-million venture-capital fund, which has to be welcome news during a time when VC investment is shrinking.
On its blog, Google announced William Maris, an online entrepreneur, and Rich Miner, the co-founder of the Android platform, will be managing partners of the fund. The two will evaluate opportunities across a gamut of industries, including software, clean-tech, consumer Internet, biotech and health care. It will bring "to bear Google's unique technical expertise and brand" to "find young companies with truly awesome potential and encourage their development into successful businesses," the two wrote.
Rather than backing companies related to its product lines, the VC aims to manage for returns and consider a plethora of investments, according to people cited in the the Wall Street Journal.
- check out this WSJ article (sub. req.)
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