The latest data shows that Google's venture capital department is shifting its focus to the medical and life sciences, reflecting the changing style of the Internet company. In 2005, Google Ventures invested a third of its funds in medical and life sciences companies, up from 9% in the previous two years. Bill Maris, Google's venture capital director, said the company plans to continue investing in the field, hoping to take advantage of the outbreak of medical data and analyze it.
"Unless there is a disaster, we will see more interesting things in the life sciences in 2015," said Marris.
In contrast, Google Ventures has reduced its investment in consumer Internet startups. This type of company accounted for 8% of Google Ventures' investment in 2014, down from 66% in 2013 – that year, Google spent $258 million on a car rental application Uber.
Google has seen opportunities in the medical industry . Although the valuation of some consumer Internet companies soared, Maris said that Google is on the contrary. “If you eat a buffet, when everyone is picking an appetizer, you should try the dessert,†he said.
Google Ventures did not disclose the total amount of investment, but Maris said that in 2014, Google allocated $420 million to the venture capital department, which was $300 million in the previous two years. This is because Google has set up a new fund for Europe and has earmarked $125 million. The department will receive another $425 million in funding next year and will adopt a similar allocation to this year. However, it is worth noting that Google’s annual investment may differ from the funds allocated in the current year.
In addition to the medical industry, Google's second largest investment focus is on the mobile sector, accounting for 27%. Google Android phones are the largest mobile operating system in the world today. Companies and data startups that provide enterprise users with network security, data storage and analytics software account for 24% of the investment.
In the past three years, consumer startups have changed from the preferred field of Google Ventures to the most unpopular area. Medical and life sciences companies accounted for the smallest share in 2012, but this year they ranked first.
During the same period, other venture capital institutions' interest in these areas remained stable. According to Dow Jones risk resources, venture capital funds in the past three years accounted for 20% of the consumer services sector, similar to the proportion of medical startups.
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