Google to establish European venture capital fund

Google (GOOG) is forming a European venture capital operation to scout out ideas and technology produced by the continent’s emerging start-ups.

"As we look out around the world, we realize that the tech ecosystems are getting bigger and stronger," says SVP of Corporate Development David Drummond. "Nowhere is this more true than in Europe. Every European capital I travel to I see these start up clusters. Its obvious that great companies will come out of these ecosystems."

The new $100M fund will operate from Clerkenwell in London, near the "Silicon Roundabout" area that is home to hundreds of tech start-ups.

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Comments (4)
  • stoj
    , contributor
    Comments (774) | Send Message
    Google joining the socialist welfare union, that is EU. Naturally, political goodwill costs $. What the World accuses US politics for, is nowhere more true than in it's European origin.
    10 Jul 2014, 04:36 AM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4381) | Send Message
    It's only sensible that Google would look to invest some of its overseas profits locally so that they don't have to repatriate them back to the US and pay US income tax on them. Why Apple refuses to invest overseas, and instead sit on its cash, I have no idea.
    10 Jul 2014, 10:24 AM Reply Like
  • gmmpa
    , contributor
    Comments (674) | Send Message
    I agree with David at Imperial Beach... If the current USA government refuses to reduce taxes of foreign profits, American companies like Google and Apple flush with cash should invest their cash where the cash is made. The EU may be socialist but there is good technology created by smart capitalists over seas that need non-Socialist funding sources to help them grow their ideas. Parking the cash in the EU banking system makes no sense for American companies. VC is a better return on equity as long as the Socialist governments do not interfere with their operations. It will also serve notice to the EU countries like France that extremist socialist economic tax garbing policies will not attract venture capital.
    11 Jul 2014, 09:14 AM Reply Like
  • thotdoc
    , contributor
    Comments (1966) | Send Message
    IMHO, this is another of Google's 'grand idea'....ideas. Their vision seems so fragmented. Look at Apple for 'sticking to the knitting'.


    David...likely Apple does know why they aren't investing overseas and simply haven't let us know yet.


    I clearly may be wrong about the following, but, re Google:Over time, people are coming to recognize that Google IS the man. Their entire business is devoted to making money by selling personal data. I for one, an extremely tired of seeing products that I'm researching showing up as advertising in other sites. It reminds me that someone is watching what I do.


    I believe that, over time, this understanding that Google is the NSA of advertising will hurt the company.
    10 Jul 2014, 10:56 AM Reply Like
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