Google Ventures is increasing its funds available to back new businesses. The amount--$300 million-- means that the three-year-old fund will be able to hand out later-stage funding (think of, say, eight-figure sums) rather than the early investor's $250,000.
Bill Maris, managing partner of the fund, claims that Google could, if it wanted, up the sum. "Larry has repeatedly asked me, 'what could you do with a billion a year?'" he told Reuters yesterday.