Google Ventures, the search engine giant's venture-capital division, is due to receive a further $100 million to invest in startups.
Google Ventures managing partner Bill Maris confirmed that the firm will now be allowed to invest up to $300 million a year into startups, representing a $100 million increase from the previous limit of $200 million per year. The increased cash "puts a lot more wood behind the arrow if we need it," he said.
The more established corporate venture funds such as Intel's Intel Capital usually invests up to $300 million to half a billion per year.
One of the reasons behind the cash investment increase for Google Ventures is that it's a fairly young division which was founded in 2009. Several companies it backed two or three years ago have approached the stages where they require larger cash infusions in order to grow.
Thus far, Google Ventures has invested in companies ranging from medicine to clean power firms to coupon companies.
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Zak Islam is a freelance writer focusing on security, networking, and general computing. His work also appears at Digital Trends and Tom's Guide.
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Zingam_Duo plekterGood guy Google.Reply
Nothing with being good here. It's business. It's capitalism. ;) It's about start up companies not about charity. ;)
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Northwestern This is so that more companies will be urged into taking advantage of the fiber-optic internet around the Kansas City metro. Meaning future job opportunities for me and many more that will have graduated by the time it's online.Reply
Google gets support in the expansion of the future, Startups get funding and help, Graduates get more job opportunities and Kansas/Missouri gets a boost in economy. Everyone wins.