Earlier this month rumours emerged that Google was planning to open a branch of its venture capital investment arm in London. Well, as they say, there’s no smoke without fire: Mountain View has now confirmed that Google Ventures has launched a London division, with an initial fund of $100 million to invest in “the best ideas from the best European entrepreneurs.”
“We believe Europe’s startup scene has enormous potential,” wrote Bill Maris, managing partner of Google Ventures, in a Google blog post. “We’ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond – SoundCloud, Spotify, Supercell and many others.”
According to the FT, Google’s go-to media outlet in London, the new European branch of Google Ventures will have five general partners, reporting to Maris — namely: Eze Vidra, who set up Google Campus in London; serial entrepreneur Tom Hulme; UK angel investor and adviser Peter Read; Avid Larizadeh, the head of the UK arm of code.org and co-founder of Bottica.com; and former TechCrunch staff writer turned venture capitalist MG Siegler.