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Google prepares $100M VC arm
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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.
For more:
- check out this WSJ article (sub. req.)
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Comments
Posted by Anonymous | March 31, 2009 - 2:43pm
Why is the arm so expensive? I'll bet the Six Million Dollar Man did not pay $100 million for his arm. A bionic arm with rudimentary super powers should only cost about $500,000. And I’ll bet you could negotiate a good price with Japanese for one. Do these Androids know what they are doing?
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