Google Launches $100M Venture Capital Fund

Investments will be in non-Internet fields
By Jason Farago,  Newser Staff
Posted Mar 31, 2009 5:35 AM CDT
Former Vice President Al Gore, left, speaks next to Google Inc. CEO Eric Schmidt at a Google Earth 5.0 event at the California Academy of Sciences in San Francisco, Monday, Feb. 2, 2009.   (AP Photo/Jeff Chiu)
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(Newser) – Google will launch a venture capital fund next year with an initial capitalization of about $100 million, reports the Wall Street Journal. Unlike other corporate funds that back companies in their own industries, Google Ventures will look beyond the Internet to also invest in biotech, health care, and environmental technology. The fund managers say they are looking to “find young companies with truly awesome potential.”