Google To Launch Venture Capital Fund

Google is currently working on setting up its own venture capital investment arm, according to a report on PaidContent.org.

The web search giant already has its own non-profit foundation to try and make a contribution to solving the world’s problems, but it reportedly now has senior vice-president David Drummond working on creating a more profit-focused VC fund.

Google won’t be the first media company to set up its own VC arm — the likes of Intel, Time Warner and Disney each have their own venture capital offshoots.

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But given the massive resources the company would be able to muster, and its insight into technological trends, a Google-backed VC firm would be sure to make a huge impact on the early stage investment market.