Google beefs up venture fund

Investor's Business Daily

The search company said it will increase its venture investing capital fund to $300 mil a year from $200 mil, putting it in the top echelon of corporate venture funds, alongside Intel's (INTC) Intel Capital, which invests $300 mil-$500 mil a year. "It puts a lot more wood behind the arrow if we need it," Bill Maris, managing partner of Google Ventures told Reuters. Google Ventures was founded in '09 and some companies it originally invested in are late-stage now and require more funding. Google shares fell 2.2% to 652.29.

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