Google launches $100m startup fund in London (Wired UK)


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Google Ventures, the venture capital arm of Google, is aiming to
bankroll entrepreneurship across Europe with a sizeable investment
fund based in London.

The $100m (£58m) fund will invest in European
technology companies, with the aim of helping develop firms across
the continent. It’s the second company in a month to launch a fund
of this size, joining Santander UK — which will invest in
financial technology startups.

Gordon Innes, CEO of London & Partners, told Wired.co.uk:
“We very much welcome the launch of this fund, which is excellent
news for Europe’s tech companies and for London as a whole. Having
the Google Ventures fund based in London further enhances our
reputation as a city in which European tech companies can find the
investment they need to grow their businesses from our growing
portfolio of active venture capital firms.”

Stephen Roper, professor of enterprise at Warwick Business
School, told Wired.co.uk: “Google’s announcement of the creation of
a European venture capital fund is another welcome signal of
confidence in the European high-tech industry. Google is rather
late into this arena, however, with companies such as Intel Capital
already having a well-established portfolio of European tech
investments. Perhaps more valuable than the investment to Europe’s
high-tech starts, however, will be the potential relationship with
Google itself, its technologies and market position.”

He added: “European high-tech firms have often looked enviously
at the supply of risk capital available across the Atlantic. The
arrival of Google Ventures in Europe takes us some way to
redressing the lack of risk capital in Europe.”

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Source: wired.co.uk
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