Last week’s rumours regarding Google Ventures‘ plans to launch a 100M+ fund to nurture European startups has come true. In a statement published on GV blog by managing partner Bill Maris, the company announced that a venture fund with initial funding of $100 million is now launched to support European entrepreneurs with ‘best ideas!.
GV Europe operations will be run by a team of four – Eze Vidral, Tom Hulme, Peter Read, and Avid Larizadeh- who will be reporting to Bill Maris, according to The Financial Times. The team will work in GV Europe office located at Clerkenwell, London.
“We believe Europe’s startup scene has enormous potential” Maris said, “We’ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond—SoundCloud, Spotify, Supercell and many others.”
The amount of funds set for Google Ventures Europe is a third of GV’s $300 million US fund. Various resources say that first batches of funding will be released in this quarter (Q3).