GV, a corporate venturing subsidiary of US-based internet and technology conglomerate Alphabet, has laid off seven members of its investor operations team, Axios reported on Wednesday.
The unit’s investor operations activities focus on adding value for portfolio companies through expertise in areas outside capital, such as research, design or human resources. The cuts equate to 8% of GV’s overall staff.
David Krane, GV’s chief executive, told Axios: “In this rapidly changing market, we are constantly evolving GV’s operational services to best meet our portfolio’s needs. Reinvesting in how we work with founders at scale is essential as we continue into the next decade.”
The decision does not seem to be a reflection of GV’s investment rate. It has taken part in rounds for data analytics provider Farmer’s Business Network, gene therapy developer Taysha, cybersecurity software producer Censys and diabetes drug developer Fractyl Laboratories so far this month.
