The founder of Google Ventures is launching a new venture fund
Getty / Noam Galai
The Google Ventures founder, who served as the firm's CEO until August, is raising a new $230 million fund, according to Recode's Kara Swisher. The fund will be called Section 32 and will focus on health care investments.
Recode reports that Maris will run the new fund himself without other partners and will remain in San Diego rather than move to Silicon Valley.
Maris founded Google Ventures in 2009. It was later rebranded as GV after the company restructured as Alphabet in 2015.
Under Maris, GV invested in Uber, ecommerce company Jet (which sold to Walmart for more than $3 billion in August), and Nest, which Google bought in 2014. Maris reportedly left the firm to spend time with his family, passing the torch to David Krane, who previously served as managing partner at the fund.
Maris' departure from GV was one of many for Alphabet in the last several months. Nest's Tony Fadell, Google Fiber's Craig Barratt, Project Wing's Dave Vos, and Chris Urmson, one of the original members of Google's self-driving car project, have left the company in the last year.
- Adani Ports Q1 profits declines to ₹1,091 crore
- Unicorns and startups should prepare for a longer funding winter, says SoftBank's Masayoshi Son
- Lok Sabha passes Energy Conservation Bill to promote non-fossil fuels
- Indian government is reportedly planning on restricting Xiaomi, Realme, Vivo and Oppo from the budget smartphone segment
- Less than 50% of children able to catch up with age-appropriate learning, claims survey