Nery Alaev

Google Ventures Europe fund abandoned 

Nery Alaev examines news about Google’s investment arm, Google Ventures.

Google Ventures, the start-up investment arm of the Silicon Valley search engine, has wound up its European wing and moved it to a wider global fund due to a recent re-branding effort.

I’m looking into the news and the implications for Europe’s start-ups – something I’ve written about previously.

New names

The fund has been re-branded as ‘GV’ in an attempt to distance it from Google – the reason for this according to Venture Beat’s article is “…Google Ventures is looking to dispel a perception that GV is really just a “cloak-and-dagger” Google arm that pilfers Silicon Valley’s best ideas.”

Nery Alaev

There’s been a re-brand at Google

In regards to Google Ventures Europe, it is made clear in the article that the fund will become part of the newly-branded GV enterprise – whether any specific funding will be given to European start-ups in the future remains to be seen.

In its eighteen month lifespan, Google Ventures Europe provided funding for five start-ups, all based in the United Kingdom. Google Ventures also invested $6 million into a Swedish game development company.

The pooling of Google Venture’s resources into one international pool potentially indicates a move towards a new global strategy, as opposed to a regional one.

New direction

Commenting on the development, Vineet Jain, CEO and co-founder of Egnyte – a partner of GV, said:

„With Bill Maris and his team managing $2.4 billion in capital, I’m particularly excited to see where they place their next round of strategic investments in areas such as machine learning, artificial intelligence and companies seeking to solve some of the world’s largest health issues. It will be interesting to watch and I am proud to have them as an investment partner.“ 

The endorsement implies that the new outlook for VG is clearly global. In summary, GV hasn’t abandoned Europe altogether, it’s simply taken a new focus.

Nery Alaev

Nery Alaev is the current Director of ESN Investments GmbH, which engages in acquisition and development of commercial and residential property in Germany and Austria.