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GV, the VC team backed by Google, has a broad remit, but it can’t do one thing
David Krane is in an enviable position. As the CEO of GV, the venture firm that is funded entirely by Google to the tune of $1 billion a year, his team of roughly 100 gets to make a lot of bets — with just a couple of notable restrictions.
During a recent TechCrunch StrictlyVC event in San Francisco, Krane revealed some insights into how GV operates. According to him, GV has invested in an astonishing 800 companies across the last five years and has invested more than $10 billion across its 15-year history. None has received as much in one shot as Uber, whose $258 million Series C round was funded by GV back when it kept the startup close to the mothership.
GV’s impressive track record extends beyond mere statistics, however. The firm seems to have a knack for spotting and supporting promising startups that can create significant impact within the broader Google ecosystem. This is particularly evident in its ability to identify potential threats and opportunities before they arise.
In an exclusive conversation with TechCrunch, Krane explained how GV’s goal is to stay at Google if you’re at Google and build transformational products. Some people don’t stay forever, he acknowledged, but instead choose to pursue their own startups, which may be where GV comes in.
Krane emphasized that the firm hasn’t set up a giant sucking vacuum to encourage people to leave Alphabet and pursue startups, but it does happen. There is a massively impressive diaspora of people who have spent time in parts of Alphabet that are now doing startups, he added.
Source: techcrunch.com
