Google Opens a $100M Fund for European Startups

Google Google is popping down the bureau de change and changing $100 million to euros to try and find the next Spotify or Skype. The search engine giant is establishing a London office for the Google Ventures investment fund to back European companies. Founded in 2009, Google Ventures is an arm of the Big G that provides venture capital, pumping money into new companies to get them off the ground or develop their ideas. With offices in Silicon Valley, San Francisco, Boston and New York, Google Ventures currently invests $300 million annually and manages $1.5bn in assets. Companies that do well might end up being fully absorbed into Google, like home automation company Nest earlier this year. The new European venture has an initial fund of $100 million to spend.

Read the full story at CNET.