Today Google announced the launch of a new venture fund to invest in European startups, with an initial funding of $ 100 million. From it’s headquarters in London, Google is here to invest in the best ideas from European entrepreneurs, and help them grow successful companies. According to Google the European startup scene has enormous potential with the emerge of successful companies like Spotify, Soundcloud, etc.
Founded in 2008, Google ventures invested in more than 250 companies so far. Next to providing funding it offers it’s portfolio companies engineering support, design expertise, and guidance with recruitment, marketing and product management.
Tech.eu reports that the fund will be led by five general partners including Eze Vidra, Tom Hulme and Peter Read.
Google Ventures is the next big VC fund investing in Europe’s startup scene, after the announced of American Cottonwood Technology Fund to locate its European Headquarters in Enschede, and Index Ventures ventures announcing the launch of an $ 400 mln fund to invest in European startups.
Image credits: Howard Lake