GV founder Bill Maris launching VC firm (for real this time)
March 15, 2017
Bill Maris, founder and ex-CEO of GV, Google’s corporate venture arm, will be the sole general partner in a new VC firm called Section 32, according to multiple reports. The new firm has set a target of $100 million for its debut vehicle, half of which is reportedly earmarked for early-stage life sciences startups, per Axios.
Considering recent events, it'd be understandable to take the news with a grain of salt. Reports surfaced late last year that Maris was in discussions to raise more than $230 million for a new healthcare-focused fund, only for Maris to scrap the idea just days later, telling Recode he was still "exploring some other ideas."
Assuming the launch of Section 32 proceeds without a hitch, it’s hard to imagine Maris will have much difficulty gathering capital commitments. GV made over 500 investments with Maris at the helm, backing companies such as Cloudera, which is set to IPO soon, and Jet, which was acquired by Walmart for $3.3 billion last year.