Alphabet’s early-stage investment unit has hired Michael McBride to seek out AI and open-source software startups.
Michael McBride has joined GV, a corporate venturing unit for US internet technology conglomerate Alphabet, as a general partner.
Previously, McBride was chief revenue officer at open source software company GitLab for five and a half years from 2018. GitLab was a GV portfolio company until its initial public offering on Nasdaq in late 2021.
Formed in 2009 as Google Ventures, GV targets life sciences, consumer enterprise, crypto, climate and frontier technology developers. Backed by its sole limited partner, Alphabet, the unit manages about $8bn in capital and more than 400 active portfolio companies across North America and Europe.
McBride will help GV identify and back early-stage artificial intelligence (AI) and open-source technology-focused enterprise software companies.
“As a builder, I appreciate GV’s technical roots and unique model as an independent investor but with a single LP with a very long-term investment horizon and an appetite for technical risk,” McBride said on LinkedIn.
“They are thoughtful but move at founder speed. They can support technical founders in complex businesses with deep expertise and capability.”
GV is one of the more prolific corporate investors globally. It has conducted 125 deals this year and invested about $1bn a year since 2020.