Google Ventures (GV) is a venture capital firm spun off from Google in 2009 and now associated with Alphabet. The firm oversees over $8 billion in assets and has invested in some of the world’s most famous businesses and corporations.
Many of the firm notable investments are in healthcare, highlighting his dedication and interest in the industry as a whole.
Take for example Flatiron Health, “a health technology company dedicated to improving cancer treatment and advancing research”, which partners with “hundreds of cancer centers, more than 20 global developers of oncology therapies, as well than researchers and regulators around the world”. While the company started out small, it was eventually acquired by pharmaceutical and healthcare giant Roche. Together, these companies have since worked to significantly transform oncology care and research.
Another striking example is Editas, a cutting-edge biotech company that is pioneering gene-editing technology. The company has a bold mission“We have built a platform that uses CRISPR gene editing, a revolutionary approach to drug development. Advances in this technology have made it possible to modify almost every gene in human cells, which means that we may soon be able to treat a wider range of diseases. The company has grown in popularity so much that in 2016 it announced plans to move forward with a initial public offering at a price of $16.00 per share. Since then, he has continued to do groundbreaking work in the field of gene editing and pioneering technology in this field.
Overall, GV has made its position on healthcare clear: “We invest in the full spectrum of healthcare, including care delivery, health IT, devices, diagnostics and the therapies. Our interests are broad and we are particularly interested in companies at the intersection of healthcare and information technology.
In an interview for the American Journal of Managed CareBenjamin Robbins, MD and Venture Capital Partner at GV, explains in more detail how companies are evaluated and regarding the investment process: “The process we like to follow is that we spend almost all of our time developing a thesis or our thoughts on a given space before we start looking at businesses in that space […] the venture capital world also has many fast and competitive transactions. Certainly, even if we try to avoid them, it is difficult to avoid, there are only opportunistic investments. There are people we know in our network who will refer companies raising capital. It’s not part of a super in-depth thesis, and we kind of have to make do. In these situations, it’s usually, we meet the team, we have to do the things that we would like to do over a longer period of time in building a thesis after meeting the company, to validate what they think, validate who’s on the team, validate the business models, and then we’ll make an investment from there.
GV will certainly continue to shine in healthcare in the years to come, especially if Alphabet’s growing investment in healthcare is any indicator of interest. Without a doubt, Alphabet has increased its participation in the healthcare industry exponentially over the past decade, whether through its cloud platform, its global commitment to healthcare solutions, or through specific niches, such as CareStudio platform. These investments come at a time when major tech companies are increasingly committed to transforming healthcare. For instance, The recent purchase of One Medical by Amazon is a direct route to the primary care market, signaling the tech giant’s interest in becoming more involved in patient care services in the United States.
Needless to say, GV is just one of many venture capital funds recognizing this growing trend in healthcare. As more funds join the ranks and double down on their investments in healthcare, the sector is only set to grow in the years to come.