VC firms team up to invest in Google Glass ideas

Trio of influential venture capital firms work together to finance services for Google Glass

Associated Press

SAN FRANCISCO (AP) -- Three influential venture capital firms are teaming to find and finance entrepreneurs who want to create applications and other accessories for Google Glass. That's an Internet-connected device that is setting out to turn wearable computing into the latest fashion trend.

The partnership announced Wednesday will join Google's own venture capital arm with two other investment firms, Kleiner Perkins Caufield & Byers and Andreessen Horowitz.

The firms are pledging to work together to arrange seed funding ranging from $250,000 to $2 million to support ideas for software and other gear built for Google Glass.

The formation of the "Glass Collective" is likely to heighten the anticipation surrounding Google Glass. The device isn't expected to be released on the mass market until next year.

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