Google Ventures has launched a $100 million fund to support a new generation of European entrepreneurs.
The fund announcement was made by Google Ventures’ managing partner Bill Maris on Google’s official blog. Maris cited Spotify, Soundcloud and Supercell as “compelling” companies that highlight Europe’s startup scene as one with “huge potential”.
Google Ventures already has a portfolio of over 250 companies including the likes of Uber, Cloudera and Flatiron Health. The organisation has been making “non-strategic” investments in tech firms since at least 2011, when they first invested in Nest, manufacturer of smart thermostats and smoke alarms which Google acquired for $3.2 billion this January.
According to the Financial Times, the new European unit will have four partners. Eze Vidra, the general partner at Google Ventures responsible for London’s Google Campus will work alongside entrepreneur Tom Hulme, angel investor and advisor to a roster of tech companies Peter Read and Avid Larizadeh, boticca.com cofounder and code.org lead.
The new team will work from offices in Clerkenwell, London, in the so-called “silicon roundabout” area. Their investments will be made throughout the UK and Europe, however, making it possible for startups in Bath and Bristol’s very own Silicon Gorge and beyond to reap the benefits.
Alongside capital, Maris has also stated that Google Ventures will provide startups with design expertise, engineering support, recruiting guidance, marketing and product management.
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