GV (company) explained

GV Management Company, L.L.C.
Type:Subsidiary
Former Name:Google Ventures
Foundation: (as Google Ventures)[1]
Founder:Bill Maris (founding CEO)[2] [3]
Key People:David Krane (CEO)
Industry:Venture capital
Products:Investments
Assets:$8 billion

GV Management Company, L.L.C.[4] is a venture capital investment arm of Alphabet Inc., founded by Bill Maris,[5] that provides seed, venture, and growth stage funding to technology companies. Founded as Google Ventures in 2010, the firm has operated independently of Google, Alphabet's search and advertising division, since 2015.[6] GV invests in startup companies in a variety of fields ranging from the Internet, software, and hardware to life science, healthcare, artificial intelligence, transportation, cyber security and agriculture.[7] It has helped finance more than 300 companies that include Uber, Nest, Slack, and Flatiron Health.[8]

History

The group was founded on March 31, 2010, with a $100 million capital commitment, by Bill Maris who also became GV's first CEO.[9] [10] [11] In 2012, that commitment was raised to $300 million annually, and the fund has $2 billion under management.[12] In 2014, the group announced $125 million to invest in promising European startups.[13] [14] By 2014, it had invested in companies such as Shape Security.[15] In December 2015, the company was renamed GV and introduced a new logo.[16]

As of 2016, GV has been less active as a seed investor, instead shifting its attention to more mature companies.[17] [18] There is also a focus on startups in the healthcare markets. It created the biotech company Calico and has invested in Foundation Medicine, Genomics Medicine Ireland, Editas Midicine, and Flatiron Health, among others.[19] In 2020, GV hired Candice Morgan as the firm's first Diversity & Inclusion Partner[20] and promoted Terri Burns from principal to the firm’s first black female partner.[21]

Structure

In 2013, GV developed an intensive, five-day design process, called a Design Sprint, which helps startups solve problems quickly.[22] [23] It is based on key ideas of agile development and design thinking.[24] In addition, GV provides portfolio companies with access to operational help after making a financial investment.[25] Full-time partners at GV work with portfolio companies on design and product management, marketing, engineering, and recruiting.[26]

See also

Notes and References

  1. Web site: The Google Ventures Cheat Sheet . Schonfeld . Erick . 2009-04-04 . TechCrunch . 2009-04-15 .
  2. https://web.archive.org/web/20160708150055/http://www.gv.com/team/ Team
  3. Web site: Team | Google Ventures. https://web.archive.org/web/20140326134300/http://www.gv.com/team/. dead. March 26, 2014. March 26, 2014.
  4. Web site: Delaware Corporate Entity Search . March 5, 2022 . September 21, 2015 . https://web.archive.org/web/20150921182309/https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx . live . (file no. 4726690)
  5. https://web.archive.org/web/20160313054647/http://www.gv.com/team/bill-maris/ Bill Maris, CEO Profile
  6. Web site: Press . 2015-12-09 . GV.
  7. Web site: GV. gv.com. 16 December 2015.
  8. Book: Traitler, Helmut . Food Industry R&D: A New Approach . Coleman . Birgit . Burbidge . Adam . John Wiley & Sons . 2016 . 978-1-119-08939-1 . Chichester . 188 . en.
  9. Web site: Google Ventures founder Bill Maris is back. Again.. Axios. 14 March 2017 .
  10. News: Google Ventures and the Search for Immortality . Bloomberg.com. 9 March 2015 .
  11. Web site: Bill Maris Steps Down as CEO of Google Ventures. Fortune.
  12. News: Exclusive: Google Ventures beefs up fund size to $300 million a year. 8 November 2012 . Reuters.
  13. Web site: Bill Maris interview: Google Ventures into Europe. Oscar Williams-Grut. 28 October 2014. The Independent.
  14. Web site: Google Ventures invests in Europe. 9 July 2014 .
  15. Web site: Primack. Dan. Deals of the day: Shape Security raises $40 million. Fortune. 14 May 2015.
  16. News: Google Ventures Launches Rebranding Initiative . PYMNTS.com . 2015-12-07 . 2015-12-09 .
  17. Web site: Google Ventures Dials Down Seed Deals, Urges Mature Startups to Go Public. Chernova. Yuliya. 2015-12-06. WSJ. en-US. 2018-04-11.
  18. Web site: Google's (GOOG) not investing in young startups anymore — Quartz. Wong. Joon Ian. qz.com. 12 August 2016 . en-US. 2018-04-11.
  19. Book: Hilbush, Brian S. . In Silico Dreams: How Artificial Intelligence and Biotechnology Will Create the Medicines of the Future . John Wiley & Sons . 2021 . 978-1-119-74563-1 . Hoboken, NJ . en.
  20. News: How to build a race-conscious equity, diversity, and inclusion strategy . Fast Company . Candice Morgan . September 2, 2020 . October 11, 2021 .
  21. News: Meet Terri Burns, the youngest and first black female partner at GV, formerly known as Google Ventures . CNBC . Courtney Connley . October 22, 2020 . June 23, 2021 .
  22. Web site: How Google Ventures does rapid prototyping 'design sprints' with its 170 startups. 14 August 2013. VentureBeat.
  23. Web site: Inside A Google Ventures Design Sprint. 23 October 2013 . TechCrunch.
  24. Book: Carvalho, Carlos Vaz de . Technology Supported Active Learning: Student-Centered Approaches . Bauters . Merja . Springer Nature . 2021 . 978-981-16-2081-2 . Singapore . 84 . en.
  25. Web site: Will Google Ventures disrupt venture capital?. onstartups.com. 2014-02-03.
  26. Web site: Manjoo. Farhad. Google's Creative Destruction. 16 April 2012. Fast Company.

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