Albeit one of the wealthiest companies in existence, Google does take time to give back with its money in a number of ways, including advanced healthcare research, discounted Chromebooks for educational purposes, and investing in the next wave of technological innovation.
Google's latest venture might tap into a little of all of that and then some, especially on the investment side.
The Mountain View, Calif.-headquartered corporation has introduced Google Capital, a new equity fund intended to fuel growth-stage companies. That is in contrast to the existing Google Ventures, the Internet giant's VC arm for investing in startups.
Examples of Google Capital-backed companies include SurveyMonkey and Lending Club.
Google Capital partner David Lawee stressed in a blog post on Wednesday that the new fund's motivation is not solely "monetary" but "to invest in the most promising companies of tomorrow."
The most important—and distinctive—feature of Google Capital is how we work with our portfolio companies. Over the past 15 years, Google has built a strong business, and that’s mostly thanks to the great people who work here. Our portfolio companies have abundant access to the talent, passion and strategic expertise of some of Google’s technology and product leaders. While many investors may contribute money and advice to the companies they support, Google Capital is going beyond that and tapping into our greatest assets: our people. They help us succeed, and we believe they can help our portfolio companies do the same.
Google Capital itself didn't provide any specifics on financial figures. But Bloomberg reported on Wednesday that the investment arm already has $300 million, much of which will be directed toward online education.
Lawee cited education software and hardware vendor Renaissance Learning as a one of the companies already in the Google Capital portfolio.