Google Ventures opens London office with £60m start-up fund

By Graeme Burton
11 Jul 2014 View Comments
Google Search

Search giant Google, which is currently wrestling with EU anti-trust authorities over a settlement for favouring its own products in search results, has set up Google Ventures, a £60m venture fund to invest in European start-ups.

Based in London, Google Ventures' European office will have five general partners who will be tasked with scouring Europe's capitals and tech hubs to find new start-ups in which to invest.

Further reading

Google Ventures was founded in 2009 and has already invested in a range of companies in the US, including Nest, which it went on to buy; mobile cab app company Uber and many others. Today it has a portfolio of more than 250 companies, not all of which are focused on technology.

Europe suffers from a dearth of early-stage and venture capital funding, which often forces entrepreneurs and start-ups to the US instead.

"To help support the next generation of European entrepreneurs, today Google Ventures is launching a new venture fund, with initial funding of $100m (£58.5m). Our goal is simple: we want to invest in the best ideas from the best European entrepreneurs, and help them bring those ideas to life," wrote Google Ventures managing partner, Bill Marris, in a blog posting.

According to the Financial Times, the London office will have have five general partners, including Eze Vidra, Tom Hulme, angel investor Peter Read, Avid Larisadeh (co-founder of online fashion retailer start-up Boticca), and tech blogger MG Siegler in a temporary capacity.

Maris said that as well as providing capital, Google will also offer engineering support, design expertise, recruitment guidance, marketing, and product management.

Reader comments
blog comments powered by Disqus
Newsletters
Is it time to open Windows?

Computing believes that Microsoft will start offering Windows free of charge by 2017. Is this a good thing for the enterprise?

55 %
17 %
6 %
19 %
3 %