"Just as we were founded by entrepreneurs, we think we can help some of those next entrepreneurs with the next great idea," said Miner.
Several high-tech companies have in-house venture capital arms, including Intel and Motorola, But Maris said that Google Ventures will have more in common with traditional venture capital firms.
"We're making financial return our first lens," said Maris.But he noted that a part of the appeal of Google Ventures for start-up firms is the relationship to Google and its 20,000 employees.
The fund will focus primarily on companies seeking seed funding and early stage funding, and Google Ventures will have the ability to make investments ranging from tens of thousands to "several tens of millions" of dollars, Maris said.
Found at Reuters