Google launches growth stage initiative Google Capital

Google on Wednesday launched Google Capital, a growth stage initiative designed to complement its venture capital arm, Google Ventures, by investing in growth stage companies.

Google Capital will be led by partners David Lawee, Scott Tierney and Gene Frantz, and, according to a Bloomberg report, has $300 million to invest. Its website lists an investment team of 10 people and three current investments: SurveyMonkey, Lending Club and Renaissance Learning.

Google Capital will invest across a range of industries and draw on Google employees to help portfolio companies.

Here is a link to a Google blog announcing the initiative.