Yesterday, Google officially launched its brand new investment fund, Goggle Capital, and with it, made growth-stage companies around the world very excited.
Google Capital is essentially a growth equity fund aimed at growth-stage companies. These are companies that, while still young, have kicked off their baby shoes and are moving into their adolescent stage.
In a post published on Google‘s blog, the mega company said that they are looking specifically at companies that “˜have already built a solid foundation and are really ready to expand their business in big ways‘.
Google also has a similar investment fund called Google Ventures. However, the difference between the two being that Ventures focuses on early stage startups.
Since it‘s inception, way back in 2009, Google Ventures has helped to fund over 200 startups across the globe. There‘s no doubt that Google plans to do the same with Capital.
According to the blog post, Google will looking into fledgling companies across an array of different industries that offer new technologies and have proven track records in their specific fields.
The idea, which is obviously backed by Google, is also being driven by key partners David Lawee, Gene Fantz and Scott Tierney.
Along with providing companies with financial support, Google also said that they will give companies that are part of the Capital fund access to their “˜greatest asset‘: their people.
“œThey [our people] help us succeed, and we believe they can help our portfolio companies do the same“ they said in their blog post.
Capital has already invested in three, great companies. The first being SurveyMonkey; a company that develops world class online survey software. The second is Lending Club, which is an online financial community aimed at credit-worthy borrowers and investors. And lastly, Google Capital has invested in Renaissance Learning – a cloud-based learning, teaching and assessment company.
Google‘s track record with in providing financial and intellectual support to startup companies is impeccable, and we‘re sure that Google Capital will only add to that.
Source: Google Blog