Bill Maris founded GV (fka Google Ventures) in 2009. Between fresh memories of the financial crisis and the prevailing doubts of Silicon Valley about corporate venture capital firms—even one flying the Google flag—captaining GV in that moment might have given others pause. CVCs to that point had yet to write many success stories. But Maris kept his approach to corporate venture in line with more conventional VCs by restricting the role of Google’s powerful C-suite in order to compete with big firms like Sequoia.
In terms of corporate VCs, only Intel Capital has been a more active than GV since the start 2010. Perhaps Maris’s legacy outside GV will be the outsized presence CVCs now command in the startup world—particularly in IT, which represents over 300 of GV’s own deals, with a median investment size of $5.9 million. IT startups have seen by far the largest portion of capital invested by CVCs since the start of 2010, a staggering 46%, more than double the share of healthcare (18%), the second-most-active sector, and third-place B2C (17%). GV’s median investment size for its 41 healthcare deals has been $28 million under Maris and $12.3 million for its 68 B2C investments.
From an interview Maris conducted with The New York Times, he's clearly satisfied with his time at the helm.
“I looked around at how well GV has done and said mission accomplished,” Maris told NYT. “If you’re a chef and you have the finest ingredients and work in a beautiful kitchen and bake the cake, it’s time to go cook something else.”
David Krane, who spent a decade as Google’s director of global communications and public affairs, will replace Maris as chief executive. Krane led GV’s investments in Uber, which is now valued about $68 billion, and Nest, which Google bought in 2014 for $3.2 billion.
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