Google has started a $100 million fund in Europe to invest in tech startups, the seed of what could be large-scale funding for overseas entrepreneurs.
The search giant described the fund, which is manged by its venture capital unit Google Ventures, as initial funding to guide and support entrepreneurs with great ideas. The fund will be managed out of a new office in London.
In a blog post, Bill Maris, Google Ventures managing partner, wrote: We believe Europe s startup scene has enormous potential. We ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond — SoundCloud, Spotify, Supercell and many others.
The European fund comes as part of Google s continental expansion, including building a campus in London in 2012 and offering workshops and mentoring programs for startups in Dublin. Last month, the company unveiled plans to open an office in Warsaw; Google also has offices in Brussels, Zurich, Paris, Manchester and Amsterdam.
Google Ventures launched in 2009 and provides seed, venture, and growth-stage funding to more than 225 companies, including Nest, Uber, HomeAway and Blue Blottle Coffee Co. The firm has its headquarters in Mountain View and offices in San Francisco, Boston and New York.
Photo: A visitor uses a laptop computer at Google Inc. s London Campus, in London, U.K., on Monday, Dec. 2, 2013. Photographer: Jason Alden/Bloomberg
