Today, Google announced the launch of Google Capital, a new growth equity fund backed by Google and led by partners David Lawee, Scott Tierney and Gene Frantz.
The goal of this new fund is to invest in the most promising companies of tomorrow. According to David Lawee, one of the Partners, this fund is different from Google Ventures in that while Google Ventures focuses mainly on early-stage investments, Google Capital will 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.
Google Capital has already invested in a couple of companies like SurveyMonkey, Lending Club and Renaissance Learning and many more are expected in the near future. David said that Google Capital will be looking across a range of industries for companies with new technologies and proven track records in their fields.
According to David Drummond, Senior Vice President, Corporate Development and Chief Legal Officer Chairman of Google Capital, “We have the capability to use our money, our time, our effort, our expertise, our brain power, and the Google brand to help build great companies. That’s a worthwhile thing to do.”
