Internet search giant Google is preparing for a massive cash infusion into new ideas the company would like to help cultivate.
Reuters confirmed Friday that Google will raise the cash it allocates to its venture-capital arm to up to $300 million annually.
Until now, that figure was just $200 million. This move propels Google Ventures “into the top echelon of corporate venture-capital funds.”
Access to that sizable checkbook means Google Ventures will be able to invest in more later-stage financing rounds, which tend to be in the tens of millions of dollars or more per investor.
“It puts a lot more wood behind the arrow if we need it,” said Bill Maris, managing partner of Google Ventures.
Reuters confirms that, to date, some of Google’s biggest investments include: “Nest, a smart-thermostat company; Foundation Medicine, which applies genomic analysis to cancer care; Relay Rides, a carsharing service; and smart-grid company Silver Spring Networks.”
