Google creates a $100 mln fund to invest in the “next great idea”

google logoGoogle Inc has established a $100 million venture fund to invest in start-up, but full of potential Internet firms, which need early stage funding to develop their business.

Google Ventures will wholly belong to the Cupertino company and will actually look for firms through which Google will increase its revenue in this hard times.

Rich Miner and Bill Maris will manage the fund, and as Miner said, Google Ventures is looking for probably all kinds of companies including information technology, health care and biotech, etc..

“Just as we were founded by entrepreneurs, we think we can help some of those next entrepreneurs with the next great idea,” said Miner.

Pixazza Inc, an photo-based online service and Silver Spring Networks are among those companies, which already had already got investments from Google Ventures.

Google Ventures investments will rang from tens of thousands to “several tens of millions” of dollars according to its managers.

Google creates a $100 mln fund to invest in the “next great idea”