It has been confirmed that Google’s investment arm, Google Ventures, has plans to open up a new London office.
The office located in East London’s Clerkenwell will be the fourth Google Ventures office, but the first from the firm to be located outside of the United States.
Google Ventures managing partner, Bill Maris, said: “We believe Europe’s start-up 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.
Positioned just a short distance from the action of London’s Tech City, Google Ventures new London office will be used to select start-ups across Europe, not just in the UK capital.
Maris added: “Our goal is simple: we want to invest in the best ideas from the best European entrepreneurs, and help them bring those ideas to life.”
Set up in 2009, Google Ventures was created to provide both financial and technical support to new ventures and innovations. At present, the investment arm has provided funding for over 250 start-up businesses. Google Venture’s current offices are located in Mountain View, Boston and San Francisco.
It is reported that the new Clerkenwell office will have an initial fund of £58.5m to invest in new ventures from all industries.
By: Kirsty MacGregor
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