Many venture capitalists have drawn in their horns and are biding their time – waiting for the financial tempest to make way, but Google is unfazed. It has setup a new venture fund called Google Ventures. The group will invest up to $100 million in businesses that catch its attention. David Drummond, William Maris and Rich Miner are the people in charge of Google Ventures.
According to William Maris, an entrepreneur and investor brought in to oversee the fund, the fund will make full use of the company's links to search for startups. The fund will focus on startups in sectors like the internet, green technology and life sciences . The fund might be in its youth but it has already invested in two companies. One of them, Silver Spring Networks, develops electric grid management system and the other, Pixazza, is an internet company.