Google is creating a European arm to its venture capital vehicle, Google Ventures, which has previously focused its investments on Silicon Valley.
The $100 milliom fund dedicated to fledgling European businesses stems from Google’s belief that the region will become home to some of the world’s biggest technology companies.
“As we look out around the world, we realise that the tech ecosystems are getting bigger and stronger,” said David Drummond, Google’s senior vice-president of corporate development.
“Nowhere is this more true than in Europe. Every European capital I travel to I see these start-up clusters. It’s obvious that great companies will come out of these ecosystems.”