Google Ventures has landed in Europe, after a few years in North America, the venture capital firm has set up in London, with $100 million to spend on new startups in Europe.
In the blogpost, Google speaks about steam locomotives, the predecessor to the modern computer and penicillin all coming from the United Kingdom, and how Google Ventures wants to help European startups succeed.
The $100 million starter pack will allow Google Ventures to begin investing right from the get-go, looking at new and interesting startups, capable of delivering a new unique service to people worldwide.
Google Ventures is not the typical venture capital firm, they offer engineering support, marketing, recruitment and production management, on top of the backing payment to fund the startup.
Most startups cannot self-fund and need the help of investors. Even big startups like Spotify and Twitter needed investment up until recently, relying on venture capital in order to build their company.
It is hard for some companies to gain investment, products need to be unique and already have a userbase. Snapchat showed that once the user base is there, it is easy to make investors and companies approach for a slice.
Google Ventures might deal with external investment, but Google is well known for acquiring companies before they get out of the startup stage, intent on taking the technology for themselves and integrating it into Google.
This has lead to hundreds of investment yearly from Google, some in the low millions and others surpassing $1 billion. Google recently acquired Waze Maps for $1.2 billion and has been acquiring aero-space and drone startups.