Google has increased the size of Google Ventures’ fund to $ 300 million annually, up from $ 200 million, and the firm’s partners said they expect to increase their involvement in later investment rounds as they grow, Reuters first reported Thursday.
We've increased our fund by 50% to $ 300MM a year. We plan to invest $ 1.5B in startups over the next 5 years. #gvsummit—
Google Ventures (@GoogleVentures) November 08, 2012
Founded in 2009, Google Ventures is the venture capital arm of its parent company Google, and does a wide variety of deals, from 40-50 seed-stage investments under $ 250,o00 to a few deals under $ 10 million. So far, the firm has invested in companies like Nest, which makes connected thermostats, HomeAway, a popular vacation rental site, and RelayRides, the ride-sharing company.
The additional funding will allow the firm to do more deals and especially to do follow-on rounds for companies that are expanding rapidly.
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