Google invests in early stage Indian VC funds

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Google invests in early stage Indian VC funds

The search company has invested in Seedfund and Erasmic, which identify, nurture, and finance innovative startups.

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BANGALORE: Google Inc . today announced its investment in two early-stage venture capital funds, Seedfund and Erasmic.

Google said in a statement that India is the first place where it has made a limited partner investment in early stage funds. The company did not disclose the financial terms of the deals.

"While the rush of large amounts of venture capital into India is well-documented, very little of this trickles down to the really small firms, the early-stage startups," said Samir Sood, head of corporate development - South Asia, Google.

"Google's goal is to close this gap by investing in early stage funds such as Erasmic and Seedfund, which identify, nurture, and finance innovative startups and help them grow.

These early infusions of capital provide an impetus for entrepreneurship in product engineering and will hopefully result in innovations that benefit consumer, internet and mobile services," he added.