In a year when it seemed like every tech company began diving into healthtech, GV, the non-strategic corporate venture unit formerly known as Google Ventures and headed by David Krane, was far ahead of the game.
GV has been investing in life sciences for 15 years, building a portfolio including Flatiron Health, One Medical and dozens of pharmaceutical companies.
Those companies now make up some of its largest rounds, and they are increasingly taking advantage of rapid advancements in AI. GV has also been exploring AI startups, contributing to nine-fi gure rounds for AI software developer platform Modular and photonic processor provider Lightmatter.
Formed in 2009, GV now has one of the largest portfolios in venture capital, with more than $10bn under management and about 400 active portfolio companies across North America, Europe and Israel.
“GV now has one of the largest portfolios in venture capital, with more than $10bn under management and about 400 active portfolio companies”
GV made Krane a general partner in 2010 and promoted him to managing partner four years later. He was appointed CEO in 2016 after Bill Maris, GV’s co-founder and former head, stepped down.
Krane believes ageing technology in particular will become a big area of focus. Agetech is expected to be a $2tn market, covering areas such as smart appliances and connected devices for in-home care, wearable robotics, e-learning platforms and robot companions.
Krane was originally hired by Google in 2000 and soon joined its senior leadership team as the firm’s global communications and public affairs lead, a role he held for nearly a decade. That experience has given him perspective on decision-making.
“My approach is to surface the dissenting opinion early,” Krane says on GV’s website. “If you can make the hard stuff safe, you can get through it and move to resolution in a way that enables relationships to grow and intensify.”
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