David Lawee, partner at Google Capital, wrote a blog post on Google’s official blog where he announced the formation of a new growth equity fund.
The fund will be led by Lawee, Scott Tierney and Gene Frantz and will work with companies that are about to hit their growth phase.
Lawee says future partner companies will have “built a solid foundation and are really ready to expand their business in big ways.”
Google Capital has already invested money into SurveyMonkey, Lending Club and Renaissance Learning.
Google Ventures, an existing Google equity fund, will continue to invest in technology companies that are at their early stage, Lawee said in the post.
Lawee added that Google Capital will offer its employees’ talent, passion and strategic expertise to its portfolio companies.