Google is planning a new late-stage investment fund, potentially separate from Google Ventures, its existing venture capital division, Reuters has reported. The report states that the new fund will be led by David Lawee, who a Google spokeswoman confirmed will be stepping down from his current position as VP of corporate development to work elsewhere in Google.
The Google spokeswoman also confirmed that Don Harrison, a lawyer at Google, will take lead Google’s corporate development beginning in 2013.
Google Ventures just expanded its fund to $ 300 million annually, up from $ 200 million, and was established as a venture capital division in 2009. Google did not comment on the possibility of a new investment firm. When Google Ventures recently announced the expanded fund, managing partner Bill Maris noted that Google co-founder Larry Page asked him what he would do with $ 1 billion, but that Google Ventures wasn’t ready to scale to that size yet.
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