According to Wall Street Journal, Google Capital has confirmed to hire Tech Crunch as a representative to handle India operations. This will be the first offshore office of U.S. search giant’s late-stage capital arm. Google is joining SoftBank, Tiger Global and other investors in India, after the company revealed that it is in the process of setting up an office for Google Capital. While Google Ventures, which invests in early stage companies, set up an office in London recently to target Europe, this will be the first international outpost for Google Capital, which focuses on later-stage companies. Overall, Google Capital, which was founded last year, has invested in 11 companies, out of which 2 are from India. Reportedly, Google Fund has a war chest of $300 million.
Google Capital partner David Lawee told Wall Street Journal, “It makes a lot of sense to focus on India right now,” , adding that Indian internet users have already surpassed USA in number of volume, and Indian entrepreneurs are ‘responding’ to this new economy with ‘innovative’ solutions. He further took note that India’s internet population had already surpassed that of the U.S. and that local entrepreneurs “are responding” with “innovative” offerings for the domestic market and thinking about global growth, as well.
Although it is not yet clear that which city would be chosen for their first office, but speculations are rife that it can be either Bangalore or Delhi, which are the startup epicenters in India.
Google Capital has already dipped its toes in India, having invested in real-estate portal Common Floor. The organization did tell the Journal that it is open to investing in Indian startups across the board — it will be interesting to see just how it increases its presence in India, and the knock-on effect that its official arrival has on the country’s startups and other investors.