Google funding India Venture Capital Firms

“Google has committed money to two Indian venture capital firms, saying fledgling companies in India with good ideas have too few avenues for financial support. Google invested undisclosed amounts into small venture firms Seedfund and Erasmic. The amounts were likely in the single digit millions… Last year, Google began investing directly into start-ups, including WiFI router company FON, and another WiFi router company Meraki. Overall, these investments have been very small, relative to the hundreds of millions invested by other large companies, such as Intel. Red Herring first wrote about the Google VC move a couple of weeks ago, and Samir Sood, Google’s head of corporate development in South Asia has since sent out a statement, explaining the move: “While the rush of large amounts of venture capital into India is well-documented, very little of this trickles down to the really small firms, the early-stage start-ups.”