Indeed, Google Capital will have a slightly different focus to its existing Google Ventures fund, which is aimed more at fledgling startups. The new fund will be backed by Google itself, as you’d expect, and led by partners David Lawee, Scott Tierney and Gene Frantz. They will be looking for companies “that have already built a solid foundation and are really ready to expand their business in big ways,” says Lawee.
Google Ventures has helped fund more than 200 startups since 2009, including Nest which it subsequently went on to acquire for more than $3 billion. And Google Capital has already dished out to startups that include SurveyMonkey, Lending Club and Renaissance Learning, so we can likely expect many more to follow in the coming months and years.