Google to establish European venture capital fund

|By:, SA News Editor

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.