Google Inc (NASDAQ:GOOGL)’s Google Ventures is revealed to have a lot of interest in the healthcare industry. In fact, the biggest chunk of the investments made by the venture capital arm of the Internet search and advertising giant last year went into healthcare and life sciences companies, Fox Business reveals.
In an interview with the news organization’s Jo Ling Kent, Google Ventures Managing Partner Bill Maris explains why Google Inc (NASDAQ:GOOGL)’s venture capital firm is very interested in these companies. Maris tells the Fox Business reporter that his primary interest is life sciences since his background is in neuroscience which is an area where he spends a lot of time thinking about.
“The largest parts of our investments last year – 36% – went into healthcare companies,” Maris tells Kent. “I don’t think there’s a more important place to invest of spend one’s time because there are two things you can’t get back once they are gone which are your health and your time. It’s a real priority for me and I think it has a double benefit when you are successful. One, you help create a really important company, and two, you’ve helped a lot of patients so it’s a place where we spend a lot of our time.”
Apart from health and life sciences, 27% of Google Ventures’ investments last year were in the mobile industry. At third place is enterprise and data which accounted for 24% of the firm’s total investments last year. Consumer and commerce accounted for 8% and 5% respectively.
Google Inc (NASDAQ:GOOGL) venture capital arm is one of the most active global investors, Fox Business notes, as it has over $2 billion of assets under management. The firm also has 280 companies in its portfolio.
In terms of specific areas in healthcare Google Inc (NASDAQ:GOOGL) sees as very interesting, Maris says that genomic therapies, immunotherapies, advance diagnostics and next-generation sequencing are some of the few areas the firm is looking at.
Robert Karr’s Joho Capital owned 150,664 Class A shares of Google Inc (NASDAQ:GOOGL) by the end of the last quarter of last year.
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