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Google Ventures heads to Europe

Google Ventures heads to Europe

Google is bringing its Ventures investment arm to Europe, announcing a dedicated $100 million venture capital pot for start-ups in the region.

Google Ventures, the investment arm of advertising giant Google, has announced that it is casting its net outside North America with a $100 million fund earmarked for European entrepreneurs.

Google has a long history of investing venture capital with firms, the best of which it later buys outright. Android, the company's massively popular mobile-centric operating system, started life in this way. Its official venture capital arm, Google Ventures, has previously restricted its focus to North American targets with very few exceptions - until now.

'To help support the next generation of European entrepreneurs, today Google Ventures is launching a new venture fund, with initial funding of $100 million. 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,' claimed Google Ventures managing partner Bill Maris at the announcement. 'We believe Europe’s startup scene has enormous potential. We’ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond — SoundCloud, Spotify, Supercell and many others.'

The new programme will see successful European applicants receive venture capital funding from a $100 million pot, and will join Google Ventures' 250 portfolio companies in receiving both the monetary investment and access to Google's engineering, design, marketing, management and recruiting support.

Details of the programme are available on the Google Ventures website. Thus far, Google has not named its first European investment under the programme, nor which companies it is currently investigating.

2 Comments

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Star*Dagger 11th July 2014, 23:50 Quote
Europe uses Euros (though some countries still use their own boutique currencies).

Also nice to see them go where the real innovation and educated minds are at.
mclean007 15th July 2014, 13:58 Quote
Quote:
Originally Posted by Star*Dagger
Europe uses Euros (though some countries still use their own boutique currencies).

Also nice to see them go where the real innovation and educated minds are at.
What a bizarre comment. First, I don't think you can call British pounds sterling a "boutique currency" - it is one of the most widely traded, stable and widely accepted currencies in the world, behind only the US dollar and the Euro.

Secondly, what's your point? The Euro is the currency of most of Europe, but that doesn't affect the accuracy of the article. Google is a US headquartered company so accounts and reports in USD. It is natural that its war chest for ventures anywhere in the world would be USD denominated. Those dollars will be converted into Euros or pounds or shekels or whatever else is required for international acquisitions.
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