Google Ventures: A capital idea
While venture capital investments have slowed dramatically over the last couple of quarters, it isn’t stopping Google from doubling down on investing in startups. Google Ventures is looking to invest in ‘exceptional startups’ in a surprising number of industries.
The fund is expected to invest as much as $100 million in the next year or so. Google is looking for companies in the consumer Internet, software, clean-tech, bio-tech and health care for starters.
Google Ventures has two dedicated Managing Partners that will vet startups. Bill Maris has a unique background blending online entrepreneurship with experience managing a portfolio of biotech and healthcare companies.
Rich Miner is the co-founder of Android along with Andy Rubenstein, which was purchased by Google. He also worked as part of a venture capital team for telecommunications company Orange and created his own voice-based personal assistant technology.
The most interesting component of this venture strategy is that Google Ventures plans to tap the brain trust at Google to help evaluate specific companies. This will help the Managing Partners to come up to speed on new industries more quickly and apply the collective brainpower of Google’s employees.
Google isn’t the first Silicon Valley company to launch its own venture capital arm and it’s certainly not the first time the company has invested in startups. However, Maris and Miner are expected to turn those investments into a profit center for the company.
Google Ventures was behind the recent investment in Pixazza, a company who links similar products to pictures you find online, and Silver Spring Networks, a company that makes smarter electricity grids.
The interest around clean technology is a relatively recent development at Google. The company has recently teamed up with GE to work on Smart Grids and is also working to launch its Powermeter for monitoring home electricity usage.
Now Google Ventures will be working to make such projects and investments turn a profit in the near term. It really makes you wonder if there’s any industry where Google can’t be successful.
Related Posts:
