A former executive at Google is getting ready to raise $100 million in order to fund start up companies from around the country.
Merus Capital, which was first established in 2007, plans to have the new dollars raised by early to mid-2011, Reuters reports. The venture capital firm, which was founded by former Google executives, focuses on helping software companies get off the ground. The two men at the helm of these investments are Salman Ullah, a former vice president of corporate development for Google, along with Sean Dempsey, who previously headed the merger and acquisition arm of the search engine giant.
Mark Heseen, president of National Venture Capital Association, said that many investors were reaping the rewards of early fund injections.
"What we're seeing is that checks are now being sent back to LPs and I think that will give them some positive encouragement to reinvest in venture," said Heseen in an interview with Reuters.
Other venture capital firms have been investing in new operations. Crosslink Capital recently announced it give funding to DevonWay, a cloud technology company.
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