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Google Capital
Company typeSubsidiary
IndustryVenture Capital
ParentPresent: Google Inc.
Proposed: Alphabet Inc.[1]
Websitewww.googlecapital.com/

Google Capital is the late-stage growth venture capital fund financed by Google, and based in Mountain View, CA.[2] Founded in 2013, it focuses on larger, growth stage technology companies, and invests for profit rather than strategically for Google.[3] In addition to capital investment, Google Capital’s approach includes giving portfolio companies access to Google’s people, knowledge, and culture to support the companies’ growth and offer them guidance. This includes connecting them with a roster of advisors, such as David Drummond (Google’s SVP of Corporate Development and Chief Legal Officer) and Sundar Pichai (Google’s CEO).[4]

Since 2013, Google Capital has invested in 12 companies, in areas such as big data, financial technology, security, and e-learning.[5]

On August 10, 2015, Google Inc. announced plans for a corporate restructuring wherein Google Capital would become the subsidiary of a new umbrella company, Alphabet Inc., alongside Google itself.[6]

Team

Google Capital was started by partner David Lawee, formerly Google’s Vice President of Corporate Development, and before that, Google’s first Vice President of Marketing. Lawee was joined by partners Gene Frantz (formerly a partner at private equity firm TPG), Laela Sturdy (former Director of Sales & Business Operations at Google) and Gretchen Howard (former Managing Director in Sales & Business Operations at Google.)[7]

Google Capital also comprises over 30 advisors from senior positions within Google, who offer portfolio companies guidance in business areas such as data science, engineering, marketing, and product management.[8]

Investments

In 2013, Google Capital announced its first two investments in SurveyMonkey, a cloud-based online survey and questionnaire tool, and Lending Club, a peer-to-peer lending company based in San Francisco.[9][10]

In 2014, Google Capital made private investments in an additional nine companies, including the Bangalore-based online real estate startup CommonFloor,[11] Freshdesk, a San Francisco-based customer support platform,[12] Credit Karma, a free credit and financial management platform,[13] and China-based optical component company, Innolight.[14]

In April 2015, Google Capital announced an investment in ZenPayroll.[15]

Relationship to Google Ventures

Google Capital focuses on later stage and growth equity investments, while Google Ventures generally focuses predominantly on earlier stage investments. In addition, Google’s Corporate Development group does acquisitions and investments that are strategic for Google’s products and business. All three investment groups are managed under David Drummond (SVP of Corporate Development and Chief Legal Officer) at Google.[16]

References

  1. ^ "What is Alphabet, Google's new company?". Business Insider. Retrieved August 11, 2015.
  2. ^ Richard Byrne Reilly (2014-02-20). "Google Capital: Meet the $300 million cousin to Google Ventures | VentureBeat | Deals | by Richard Byrne Reilly". VentureBeat. Retrieved 2015-08-12.
  3. ^ "Google's Growth Equity Investment Fund". Google Capital. Retrieved 2015-08-12.
  4. ^ [1] [dead link]
  5. ^ [2] [dead link]
  6. ^ "Google to be publicly traded under Alphabet Inc. in planned restructuring". CBC News. 2015-08-10. Retrieved 2015-08-10.
  7. ^ [3] [dead link]
  8. ^ [4] [dead link]
  9. ^ "SurveyMonkey Raises $800 Million in Debt and Equity for Tender Offer - Kara Swisher - News". AllThingsD. 2013-01-16. Retrieved 2015-08-12.
  10. ^ Dakin Campbell Ari Levy (2013-05-02). "Google Buys Stake in LendingClub Startup Valued at $1.55 Billion - Bloomberg Business". Bloomberg.com. Retrieved 2015-08-12.
  11. ^ "Google Capital Invests In Indian Real-Estate Platform CommonFloor". TechCrunch. 2015-01-08. Retrieved 2015-08-12.
  12. ^ Eric Blattberg (2014-06-12). "Google Capital jumps into $31M round for Freshdesk | VentureBeat | Deals | by Eric Blattberg". VentureBeat. Retrieved 2015-08-12.
  13. ^ "Credit Karma Confirms New $85M Financing Round Led By Google Capital". TechCrunch. 2014-03-12. Retrieved 2015-08-12.
  14. ^ Cheung, Sonja (2014-09-29). "Google Capital Makes First China Investment, Backs InnoLight - Venture Capital Dispatch - WSJ". Blogs.wsj.com. Retrieved 2015-08-12.
  15. ^ Huet, Ellen (2015-06-04). "ZenPayroll Scoops Up $60 Million Funding Round Led By Google Capital". Forbes. Retrieved 2015-08-12.
  16. ^ [5] [dead link]
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