Google announced the launch of a new European branch of Google Ventures, its startup investment arm. It's starting (based in London) with a fund of $100 million. It says the goal is to invest in the best ideas from the best European entrepreneurs, and help them bring their ideas to life.
There had been rumors that Google would open a London office for Google Ventures, and it's now official.
Google Ventures managing partner Bill Maris had this to say in a blog post:
When we launched Google Ventures in 2009, we set out to be a very different type of venture fund. Startups need more than just capital to succeed: they also benefit from engineering support, design expertise, and guidance with recruiting, marketing and product management. Five years later, we’re working with more than 250 portfolio companies, tackling challenges across a host of industries. For example, the team at Flatiron Health is improving the way doctors and patients approach cancer care, SynapDx is developing a blood test for the early detection of Autism in children, and Clean Power Finance is making solar energy affordable for homeowners.
We believe Europe’s startup scene has enormous potential. We’ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond—SoundCloud, Spotify, Supercell and many others.
Earlier this year, Google announced Google Capital, an investment fund separate from Google Ventures, aimed at funding growth-stage businesses. So far, it has seven companies under its belt.
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