Google launches new growth equity fund, Google Capital
The official Google blog today announced that the search giant would be launching a new growth equity fund, Google Capital. The fund would be backed by Google and led by partners David Lawee, Scott Tierney and Gene Frantz.
“Like our colleagues at Google Ventures, our goal is to invest in the most promising companies of tomorrow, with one important difference,” David Lawee wrote. “While Google Ventures focuses mainly on early-stage investments, we’ll be looking to invest in companies solely as they hit their growth phase. That means finding companies that have already built a solid foundation and are really ready to expand their business in big ways. We’ll look across a range of industries for companies with new technologies and proven track records in their fields.”
So far Google has invested in SurveyMonkey, Lending Club and Renaissance Learning.
Lawee said that the “great assets” Google can contribute would be its people. But others might wonder if its great asset would be its search results.