Thursday, September 8, 2022

Google Boosts Two LA Venture Capital Firms

Google said today that it has backed two, Los Angeles area venture capital firms, as part of a bigger effort to invest in Black-led venture capital firms. According to Google, it has made investments in seven, Black-led venture capital firms, including two Los Angeles venture investors--Collide Capital and Share Ventures. Collide Capital, which is split between Los Angeles and New York, is focused on "founders with the lived experiences, courage, and grit to create solutions for the next generation." Share Ventures is focused on performance management, and according to Google is creating a venture studio "building the infrastructure to repeatedly discover, validate, and scale new companies." The investments are part of a $100M commitment Google's parent company, Alphabet, announced it would invest in Black-led venture capital firms, startups, and organizations.