The initiative has been launched in partnership with startup network Rainmaking and will provide $22,000 in grant funding to 10 businesses.

The conglomerate is targeting investments totalling $100m in India-based businesses by the end of the year.

The internet company has joined forces with private equity firm Oriental Fortune Capital to launch a fund aimed at the entertainment sector, reaching a first, oversubscribed close at $73m.

The size of the fund has not yet been revealed, but is expected to be in the tens of millions of dollars.

The new vehicle will target cloud consulting firms and is being launched alongside an initiative to provide portfolio companies with resources and training.

A total of 10 companies have put capital into a $15m fund managed by Tech Square Ventures.

The internet company has reportedly launched a new venture capital initiative focused on artificial intelligence, led by vice-president of engineering Anna Patterson.

The corporate venture fund, backed by the Blue Cross and Blue Shield Association, has raised an initial $10m for its new fund.

Dubbed Solve Ventures, the investment arm will focus on digital health and medical diagnostics technologies.