Google today officially announced the launch of it’s new capital fund called Google Ventures. Their core aim is to find and support promising start ups across a diverse range of industries, from consumer Internet, software, clean-tech, bio-tech, health care to others those haven’t been mentioned yet.
According to the New York Times, David Drummond oversees Google Ventures investing up to $100 million over the next year. David will continue in his role as senior vice president of corporate developing and chief legal officer at Google.
It is also said that Google Ventures has already made two investments. One is Silver Spring Networks, a company that makes technology to help manage electric grids, and the next is Pixazza, which links online images with related products that can be purchased. Google hasn’t announced yet how much it invested in those companies.
Google Ventures will be supporting innovations and suggests they are looking forward to hear “next big ideas” to invest. Have you got any?