Investment arm of the world's largest search engine Google will increase its annual budget to $300M. This will allow Google Ventures Fund to expand its sphere of interest and invest in companies at late stage of development.
Now Google Ventures invests in startups at the seed stage, and these investments do not exceed several million dollars. The increase in the annual budget will allow the fund to participate in later rounds of financing, when investors tend to invest tens of millions of dollars.
The foundation representatives say that Google Ventures annually invests about $250K in 40-50 companies and makes about 15 transactions $10M each. Now, as the managing partner of the fund Bill Maris says, they will strive to make one or two investments in the amount of 20-50 M USD every year.
Google Ventures Fund was established in 2009 and has invested in more than 100 companies to date. The portfolio of the fund includes companies that develop mobile and medical technologies, games, tools for processing large volumes of data and so on.