Internet search giant Google’s investment arm Google Ventures is to invest US$100m in a fund that will focus on the best ideas to emerge from European start-ups.
“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,” explained Bill Maris, managing partner at Google Ventures.
The new fund for Europe will have five general partners, including Eze Vidra, Tom Hulme, Peter Read, Avid Larizadeh and former TechCrunch writer turned venture capitalist MG Siegler.
“We believe Europe’s start-up scene has enormous potential,” Maris added.
“We’ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond – SoundCloud, Spotify, Supercell and many others.
“We can’t predict the kinds of inventions the Science Museum might showcase in more than 10 years from now, but we do know European start-ups will be essential to this future, and we can’t wait to see what they create,” Maris said.
Google launched Google Ventures in 2009 and is now working with more than 250 companies across a range of technology challenges, from energy to healthcare.
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