Google Ventures Tops-up its Fund to $300 million


Google Ventures Tops-up its Fund to $300 million

Bangalore: Google has announced that it will increase the cash that it allocates to its VC arm to up to $300 million a year from the earlier $200 million, making Google Ventures a top level of corporate VC funds. It will be now be able to invest in more later-stage financing rounds bringing it to the same footing as more established VC funds like Intel Capital which normally invests $300-$500 million in a year, as reported by Reuters.

Founded in 2009, Google Ventures is a relatively young firm. Some of the companies it backed two or three years ago are now at later stages, requiring larger cash funding to grow further. Google Ventures has invested in a wide spectrum of companies ranging from medicine to clean power to coupon companies.

Every year, it usually funds 40-50 seed stage companies where it invests $250,000 or less, and around 15 where it invests up to $10 million. With the increased funds, it aims to complete one or two deals annually in the $20-$50 million range.

Some of its portfolio companies are Nest, a smart-thermostat company; Foundation Medicine, which applies genomic analysis to cancer care; Relay Rides, a car sharing service; and smart-grid company Silver Spring Networks. Last year, its portfolio company HomeAway raised $216 million in an IPO.