Google’s venture capital arm has launched a new fund to invest in European startups.
Google Ventures said in a blog post that the fund has received initial commitments of $100m.
The firm 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.
“We can’t predict the kinds of inventions the Science Museum in London might showcase 10-plus years from now, but we do know European startups will be essential to this future, and we can’t wait to see what they create.”
Since its launch in 2009 Google Ventures has invested in 250 businesses including Flatiron Health, SynapDx and Clean Power Finance.
Last month the firm made a further investment in automation software provider Puppet Labs alongside Cisco and Triangle Venture Capital.
The company has more than 18,000 businesses using the software and said it would use the funds to invest “aggressively” in talent, technology advancements and global expansion.
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