Google sets up European venture capital arm with initial $100 million fund and four general partners

The beans have been spilled after earlier reports indicated something was brewing, courtesy of the FT: Google is creating a $100 million fund to invest in European startups.

The Internet behemoth's newest VC arm will have four (not five) general partners, including the inevitable Eze Vidra and angel investors / entrepreneurs Tom Hulme, Peter Read, and Avid Larizadeh.

The fifth - and perhaps most surprising - name is that of American tech blogger (and ex-TechCrunch colleague of mine) turned VC, MG Siegler (well kinda sorta).

**Update:** Google has sent us the following clarification, which has yet to be corrected in the FT article:

_"There are 4 general partners for Google Ventures Europe, not 5. MG Siegler, a Google Ventures general partner will move to London for short a period of time to serve as a liaison between the US and European operations, but keeps his current title."_

The money quote gets delivered by David Drummond, Google’s senior VP of corporate development:

_”As we look out around the world, we realise that the tech ecosystems are getting bigger and stronger. Nowhere is this more true than in Europe. Every European capital I travel to I see these start up clusters. Its obvious that great companies will come out of these ecosystems.”_

They already are, David, they already are.

According to the FT report, the five partners will work from offices in Clerkenwell in London but make investments across Europe, and report to Google Ventures chief Bill Maris. (_Image courtesy of Flickr user_ Burt Lum)

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