It’s not unusual to see early executives of a big tech company join the VC ranks. For example, It seems like everyone on the staff of Bellevue, Wash.-based Ignition Partners has ties to Microsoft.
But it’s hard not to notice that many early Googlers are not just investing in startups as individuals, but are forming early stage firms. My colleague Constance Loizos reported yesterday how Merus Capital (whose founders have roots that go back to Microsoft and Google) are in the midst of trying to raise $125 million for its debut fund. And one half of the management team at Javelin Ventures is a former Google executive.
I came across another firm that owes its wealth, and hopeful success, to Google. The firm, called XG Ventures derives its name from the fact that its four partners are ex-Googlers. Near as I can tell, the firm’s partners have not assembled a traditional fund raised from LPs, but are seeding companies using their own wealth. The firm is focused on consumer Internet, mobile and online media sectors.
I put in a request for comment, but haven’t heard back. (Just a sidenote, what’s the use of LinkedIn.com if an intro from a contact doesn’t get me an interview?)
If you want to learn a bit more about XG Ventures, you can listen to a group interview with three of the four partners at ReadWriteWeb.com. FYI, the audio is nearly 14 minutes long.
The XG Ventures website lists seven companies in its portfolio, including EatLime, which has raised $400,000 from Draper Fisher Jurvetson and individual investors, according to Thomson Reuters database. EatLime, f.k.a. YouSwap, operates an online video sharing company. Hmm. Sounds like a good match for Google-owned YouTube.
