Reported 11 months ago
Former Google CFO Gideon Yu is spearheading a campaign to raise around $500 million for a fund associated with Alphabet Inc.’s innovation lab, X. The fund, independent but closely related to the lab, aims to invest in startups that emerge from X, aligning with Alphabet's increased focus on financial discipline. The new fund, internally known as Scale Co., will aid X spinouts in their growth phase, with Yu seeking investors amidst a challenging venture industry landscape and aiming for completion by year-end.
Source: YAHOO