The New Google Ventures Fund Is Good News for Clean Tech Startups
Google is once again leading the pack, now trying its hand at VC-style investing. The search engine giant has announced it will apply its considerable resources to build innovative new business ideas through its new technology investment fund, Google Ventures. The fund is looking for entrepreneurs who are tackling problems in “creative and innovative” ways, and will target early-stage firms in the clean technology, consumer internet services, biotechnology, and healthcare sectors.
The new Venture arm expands Google’s commitment to clean tech, and follows a series of investments in various low-carbon projects by its philanthropic arm Google.org. Google.org’s clean energy investments have been primarily in the area of renewable energy and technologies that will enable widespread commercialization of plug-in electric vehicles. The new Google Venture fund will take a broader approach with the initial mission of “building great companies and generating long term financial return.” Also unlike Google.org’s philanthropic investing, the new venture fund will look for significant financial returns from its portfolio companies. Click to continue reading »