Reported move is the second consecutive year that Google Ventures has had its allocation increased. Google Ventures managing partner Bill Maris is quoted by news provider Reuters as saying that Google chief executive Larry Page has repeatedly asked what the firm could do with $1bn.
US-based search engine Google’s corporate venturing unit has reportedly increased its allocation to corporate venturing by 50% to $300m per year.
Google Ventures upped its allocation from $200m a year, according to news provider Reuters.
The move follows Google Ventures’ mandate being increased from $100m to $200m a year in 2011.
It is possible Google could see its mandate increased further in future. Google Ventures managing partner Bill Maris was quoted by Reuters as saying of Google chief executive Larry Page:”Larry has repeatedly asked me: ‘What do you think you could do with a billion a year?’”
Google Ventures was set up in 2009.
