Google Capital is officially launching today. The equity fund was announced less than a year ago, but the Internet giant is only now taking the final step to make it official.
The company already has Google Ventures, which aims to fund startups, but Google Capital seeks to help a slightly different group of companies, specifically those that are currently in a growth stage.
The fund will be led by David Lawee, Scott Tierney and Gene Frantz, while the money will obviously come from Google.
Google Capital will look for companies that have already built a solid foundation and are ready to expand their business in big ways. “We’ll look across a range of industries for companies with new technologies and proven track records in their fields. Our investments to date include SurveyMonkey, Lending Club and Renaissance Learning—with many more to come,” Lawee wrote.
Since 2009, Google Ventures has helped fund over 200 startups, which is quite an impressive number. Later on it ended up acquiring a few of these. A very good example is Nest, which it had invested in early on and ultimately purchased for $3.2 billion (€2.32 billion).