Google Launches VC Arm
According to the Wall Street Journal, it appears that Google will be launching a VC arm to their company… and why wouldn’t they?! I guess that they have about $12.7 billion dollars worth of cash reserves so they might as well put it to use.
Since the story was released, there has been quite the discussion throughout the blogosphere, including the comments of Fred Wilson, a partner in New York’s VC firm Union Square Ventures. Fred is pretty critical of corporate-backed venture groups… and he makes some good points. That being said, it doesn’t hurt to have some of that $12.7B back into the hands of entrepreneurs & innovators.
I look forward to see how everything plays out.
