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Google Ventures has landed in Europe

Google Ventures has landed in Europe

Google has announced that it has set up an arm of Google Ventures in Europe and allocated an initial fund of $100m for local startups. The announcement will no doubt come as welcome news to cloud startups located in European cities that when combined have begun to rival Silicon Valley.

Google Ventures originally launched in the US in 2009 and now has over 250 companies in its portfolio, many of which – like Cloudera – have created businesses on top of technologies that originally came out of research undertaken by members of the cloud giant.

Many of the startups the company invests in offer cloud services, and the firm usually invests around $300m in new businesses annually.

Bill Maris, managing partner at Google Ventures said Europe’s startup scene is very encouraging, particularly at a time when many European cities – like Dublin, Copenhagen, London and Berlin – are competing with one another and Silicon Valley to become Europe’s next big tech hub as they look to attract technology talent and encourage technology-related commercial growth.

“Our goal is simple: we want to invest in the best ideas from the best European entrepreneurs, and help them bring those ideas to life,” Maris said.

“We believe Europe’s startup scene has enormous potential. We’ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond—SoundCloud, Spotify, Supercell and many others,” he said.

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