Google is reported to be bringing its investment arm to London in a bid to capitalise on the city’s most promising start-ups.
Google Ventures, the £800 million venture capital group of the internet search giant, will be launched by a team of five within a couple of months, according to an article on conservative news and opinion website Breitbart by outspoken columnist Milo Yiannopoulos.
It is believed that the founding partners of the London office will be investors Peter Read and Tom Hulme, former No. 10 policy advisor Rohan Silva, head of Shoreditch-based Google Campus Eze Vidra and one other as-yet unidentified woman.
Silva is said to have been telling “anyone that would listen” about the imminent launch of the facility, according to a Breitbart source.
Google Ventures has made several large investments in a number of well-known US companies, including a $258 million (£150 million) splurge on controversial taxi app Uber.
It is unclear exactly how much the London branch will have to spend on UK companies but it’s not likely to be as much as the company’s Silicon Valley office. Four London VCs told Breitbart they expected the figure to be in the range of £100 million to £250 million, which is considerably less than the billion dollar funds being offered up by large venture capital firms like Index Ventures and Balderton Capital.