Google has confirmed that it is launching a European arm of its Google Ventures VC fund, following media speculation last week. The company’s first European fund is $100 million and it will be used “invest in the best ideas from the best European entrepreneurs, and help them bring those ideas to life”.
The company has an initial team of four general partners at its European office in London, which the Financial Times reports includes Google Europe exec Eze Vidra, entrepreneur Tom Hulme, angel investor Peter Read, and Code.org UK head Avid Larizadeh. In addition, they are joined by existing Google Ventures partner MG Siegler, who will remain involved with the US arm but serve as a temporary “liaison” to Europe, Google says.
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The team will be based in Clerkenwell, a stone’s throw from London’s ‘Silicon Roundabout’ startup district, but it will invest across Europe.
➤ Google Ventures invests in Europe [Google]