Google Venture lands in London: New $100m fund aimed at developing European start-ups

 

Google’s venture capital firm Google Ventures is setting up shop in London with a $100m (£58m) investment fund aimed at developing start-ups across Europe.

The US arm of Google Ventures was started in 2009 and has a fund of $1.5bn. Its most sizeable acquisition to date was the 2014 purchase of Nest Labs for $3.2bn.

Bill Marris, Google Ventures’ managing partner, announced the launch of the London branch in a blog post, saying the company thought Europe’s start-up scene has “enormous potential” and pointing to companies such as SoundCloud, Spotify and Supercell as examples.

“Wander through the excellent Science Museum in London, and you’ll see inventions that transformed history,” writes Marris, listing Charles Babbage’s difference engine and the “wonder drug” penicillin as examples of inventions that “transformed history”.

“These marvels from the past still influence our lives today, and are tangible examples of how fearless exploration and entrepreneurship can literally change the world. We can’t predict the kinds of inventions the Science Museum might showcase 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.”

The European branch will have five general partners that report to Maris: Eze Vidra, who set up the Google Campus in London; Avid Larizadeh, co-founder of fashion site Botticca and head of the UK arm of code.org; and angel investors Peter Read and Tom Hulme. MG Siegler, a Google Ventures general partner and former tech journalist, will be liaising between the US and UK operations.

The announcement has been hailed as “big news” for London’s tech scene and European start-ups in general, many of which fail to raise the same sort of funding that their American cousins routinely attract.

Life and Style
ebookNow available in paperback
ebooks
ebookA delicious collection of 50 meaty main courses
Voices
The male menopause: those affected can suffer hot flushes, night sweats, joint pain, low libido, depression and an increase in body fat, among other symptoms
voicesSo the male menopause is real, they say, but what would the Victorians, 'old' at 30, think of that, asks DJ Taylor
Arts and Entertainment
Anna Smaill’s debut novel, The Chimes, is a fusion of fantasy and romance
booksMan Booker Prize nominee Anna Smaill on the rise of Kiwi lit
Sport
Ji So-Yun scores the only goal of the game
sport
Arts and Entertainment
One of the Pyongyang posters, the slogan of which reads: ‘Let the exploits of the northern railway conductors shine!’
art
Life and Style
Linguine with mussels and fresh tomatoes
food + drink
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Gadgets & Tech

    Recruitment Genius: Web Developer

    £25000 - £30000 per annum: Recruitment Genius: This digital and print design a...

    Ashdown Group: Business Intelligence Analyst (SSRS) - Essex - up to £60,000

    £50000 - £60000 per annum: Ashdown Group: Report Analyst - Essex - up to £60,0...

    Recruitment Genius: IT Network Technician

    £18000 - £25000 per annum: Recruitment Genius: This family run IT service busi...

    Recruitment Genius: Network Manager

    £32000 - £40000 per annum: Recruitment Genius: This family run IT service busi...

    Day In a Page

    Turkey-Kurdish conflict: Obama's deal with Ankara is a betrayal of Syrian Kurds and may not even weaken Isis

    US betrayal of old ally brings limited reward

    Since the accord, the Turks have only waged war on Kurds while no US bomber has used Incirlik airbase, says Patrick Cockburn
    VIPs gather for opening of second Suez Canal - but doubts linger over security

    'A gift from Egypt to the rest of the world'

    VIPs gather for opening of second Suez Canal - but is it really needed?
    Man Booker Prize 2015: Anna Smaill - How can I possibly be on the list with these writers I have idolised?

    'How can I possibly be on the list with these writers I have idolised?'

    Man Booker Prize nominee Anna Smaill on the rise of Kiwi lit
    Art of the state: Pyongyang propaganda posters to be exhibited in China

    Art of the state

    Pyongyang propaganda posters to be exhibited in China
    Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

    Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

    Fashion editor, Alexander Fury, applauds a man who clearly has more important things on his mind
    The male menopause and intimations of mortality

    Aches, pains and an inkling of mortality

    So the male menopause is real, they say, but what would the Victorians, 'old' at 30, think of that, asks DJ Taylor
    Bill Granger recipes: Heading off on holiday? Try out our chef's seaside-inspired dishes...

    Bill Granger's seaside-inspired recipes

    These dishes are so easy to make, our chef is almost embarrassed to call them recipes
    Blairites be warned, this could be the moment Labour turns into Syriza

    Andrew Grice: Inside Westminster

    Blairites be warned, this could be the moment Labour turns into Syriza
    HMS Victory: The mystery of Britain's worst naval disaster is finally solved - 271 years later

    The mystery of Britain's worst naval disaster is finally solved - 271 years later

    Exclusive: David Keys reveals the research that finally explains why HMS Victory went down with the loss of 1,100 lives
    Survivors of the Nagasaki atomic bomb attack: Japan must not abandon its post-war pacifism

    'I saw people so injured you couldn't tell if they were dead or alive'

    Nagasaki survivors on why Japan must not abandon its post-war pacifism
    Jon Stewart: The voice of Democrats who felt Obama had failed to deliver on his 'Yes We Can' slogan, and the voter he tried hardest to keep onside

    The voter Obama tried hardest to keep onside

    Outgoing The Daily Show host, Jon Stewart, became the voice of Democrats who felt the President had failed to deliver on his ‘Yes We Can’ slogan. Tim Walker charts the ups and downs of their 10-year relationship on screen
    RuPaul interview: The drag star on being inspired by Bowie, never fitting in, and saying the first thing that comes into your head

    RuPaul interview

    The drag star on being inspired by Bowie, never fitting in, and saying the first thing that comes into your head
    Secrets of comedy couples: What's it like when both you and your partner are stand-ups?

    Secrets of comedy couples

    What's it like when both you and your partner are stand-ups?
    Satya Nadella: As Windows 10 is launched can he return Microsoft to its former glory?

    Satya Nadella: The man to clean up for Windows?

    While Microsoft's founders spend their billions, the once-invincible tech company's new boss is trying to save it
    The best swimwear for men: From trunks to shorts, make a splash this summer

    The best swimwear for men

    From trunks to shorts, make a splash this summer