$100 million Google Ventures fund to help start-ups

Google Inc is to form a $100 million fund to invest in early-stage start-up firms, as Reuters reports. This fund is supposed to be wholly owned by Google, but will operate as a separate entity under the name of Google Ventures. It will seek investment opportunities to maximize returns rather than looking for investments that strictly fit with Google's strategic vision. The two managing partners of the fund are: Rich Miner, a co-founder of Android smart phone software that Google acquired in 2005, and Bill Maris. 

The fund is to focus primarily on companies that are seeking seed funding and early stage funding, and Google Ventures will have the ability to make investments ranging from tens of thousands to "several tens of millions" of dollars, as Maris said. According to his words, Google Ventures will have more in common with traditional venture capital firms, like Intel and Motorola. 

On Monday Miner reported to Reuters that Google Ventures will look at a wide variety of companies to invest in, including consumer Internet products, information technology, health care and biotech, among other areas.

Google Ventures has already invested in a photo-based online marketing service, Pixazza Inc, and a company that uses technology to improve the efficiency of power grids, Silver Spring Networks.

Previously Google invested in other companies through Google.org, its philanthropic division. Maris said that while Google.org may continue to make investments from time to time, Google Ventures will act as Google's "primary vehicle" for making venture-style investments.