Google likely to set-up venture capital arm

Google Inc, which a couple of years ago gave a tough time to venture capitalists by lapping up startups even before VCs spotted them, is now directly entering the space. The search engine is rumoured to be launching a venture investing arm titled Google Ventures. If this is indeed true, Google would be joining the likes of corporates like Cisco, Nokia, Qualcomm and Motorola, all of which have corporate venture arms.

A Reuters report speculates that Rich Miner, the head of Google's Android project, would be affiliated with Google Ventures. Miner, who joined Google in 2005 after the search giant acquired Android way back in 2005, is responsible for wireless platforms. He joined Google in 2005 when the search giant acquired Android, a company he co-founded and which is the basis of Google's new smartphone operating system.

A Google spokesman asked about Google Ventures on Thursday said, "It's a project we're working on. But we're not able to discuss the details right now."