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Google Ventures increases funding pool to $US300 million

Friday, 9 November 2012 | By Michelle Hammond

Google Ventures will increase its annual funding pool from $US200 million to $US300 million, allowing it to invest in more later-stage financing rounds and in a broader range of companies.

 

According to Google Ventures managing partner Bill Maris, the move “puts a lot more wood behind the arrow if we need it”.

 

It’s understood the firm will be able to invest in more later-stage deals, typically over $10 million per investor.

 

According to All Things Digital, it will also double down on its efforts to invest in mobile technologies. Currently, the firm invests in a broad range of companies ranging from medicine to clean technology to coupon companies.

 

The news comes just over a year after Google doubled its funding pool to $US200 million, following a series of major investments and an expansion of its team.

 

The fund also indicated its intention to look beyond the United States for start-up opportunities.

 

Founded in 2009, Google Ventures describes itself as a “radically different kind of venture capital fund”, offering companies assistance with design, recruiting, marketing and engineering.

 

Google Ventures also offers Startup Lab, a dedicated facility and educational program where companies can meet and learn from each other.

 

Every year, Google Ventures typically funds 40 to 50 “seed stage” deals, where it invests up to $250,000 in a company, and around 15 deals where it invests up to $US10 million, Maris says.

 

Maris said it aims to complete one or two deals annually in the $20-50 million range.

 

The firm has invested in more than 100 companies including Nest, Kabam, Homeaway, SCVNGR, ngmoco and Whaleshark Media.