Like most Googlers, Ullah has probably seen a lot of good ideas.  His position with corporate development has likely allowed him to determine which ones work in the real world.  Now, he’ll reportedly put that experience to good use with a venture firm called Merus Capital.

An important note: Ullah is actually founding Merus, not just working for it.  Also, Sean Dempsey, who was a principal at Google’s corporate development group, will be going along.  Otherwise, not much is known about Merus, but Om Malik states that it “is going to focus on small early stage deals.”

As high-ranking Googlers like Ullah, Dempsey, and Benjamin Ling see their bank accounts’ balances rise, they’ll probably continue to depart; so much money provides a safety net while they pursue even more (or, if you’re less cynical, a safety net while they pursue their dreams).

For Google’s competitors, that’s a comforting thought.  For the search giant, not so much.