GV (Google Ventures)

GV (Google Ventures) — Research Report Overview GV (formerly Google Ventures) is one of the world's most active and well-resourced venture capital firms, founded in 2009 as the venture arm of Google and operating independently since 2015 under its parent company Alphabet Inc. With $13 billion in assets under management and Alphabet as its sole limited partner, GV occupies a unique position in the venture ecosystem: it invests independently with full fiduciary responsibility to its portfolio, while uniquely being able to offer founders access to Google and Alphabet resources, technology, and talent. GV has backed over 500 companies across its history, supports approximately 400 active portfolio companies, and has achieved 80+ IPOs and 230+ M&A transactions. The firm counts 64 unicorns in its portfolio, including transformational companies like Uber, Slack, GitLab, Flatiron Health, Lemonade, One Medical, and Harvey. Investment Thesis GV's stated mission is to back 'innovative founders moving the world forward.' Rather than optimizing for quick exits or specific fund cycles, GV 'operates on long time horizons and deals in decades, not rounds.' The firm emphasizes that success requires the right mindset, building the right team, developing the right product, and choosing the right partner for the long journey. Since 2023, GV has accelerated its focus on AI-native startups across multiple layers of the stack: from frontier infrastructure (photonic computing, custom silicon, data labeling) to application-layer companies building agentic systems and AI-native workflows. Michael McBride, who joined from GitLab, leads GV's AI-native investment strategy, overseeing investments in Vercel, Lightmatter, Harvey, OpenEvidence, Synthesia, and Attio. As of 2026, approximately 80% of GV Europe's new investments are in AI or AI-native companies. Sector Focus GV is a generalist firm that invests across five major verticals: AI & Developer Tools/Infrastructure: Vercel, Stackblitz (Bolt.new), SambaNova, Modular, Lightmatter, Snorkel, Deepset, PostHog. GV has backed 12+ developer tools and infrastructure companies with particular emphasis on AI infrastructure companies enabling the next generation of model training and inference. Enterprise Software & AI Applications: Harvey (legal AI, $8B+ valuation), Attio (AI-native CRM), Hebbia (enterprise AI), Synthesia (AI video for enterprise, $4B valuation), OpenEvidence (medical AI). GV has 50+ portfolio companies building AI-native applications, with strong conviction in 'the application layer' and agentic systems. Healthcare & Life Sciences: One Medical (acquired by Amazon), Flatiron Health, insitro, Isomorphic Labs, Aspen Neuroscience, OpenEvidence, Arcus Biosciences. GV has partnered with 20+ AI healthcare companies with a focus on accelerating drug discovery and improving patient outcomes. The firm's life sciences GPs (Anthony Philippakis, David Schenkein, Krishna Yeshwant) bring exceptional scientific depth. Consumer: Uber, 23andMe, Nothing, AngelList, Andela. GV has historically backed transformational consumer platforms. Fintech & Insurance: Lemonade, AngelList. GV targets disruptive financial services companies. Security: Anomali and other cybersecurity plays. Stage & Check Size GV invests across all stages from seed through growth/pre-IPO. The firm's check size ranges from approximately $500K at the pre-seed/seed stage to $50M+ in growth rounds. GV follows on heavily in their best-performing companies (evidenced by continued participation in Synthesia, Vercel, Harvey, and Attio across multiple rounds). Stage breakdown from portfolio: Seed / Series A: First-check conviction investments in exceptional founders Series B-C: Growth-stage follow-ons and new investments in proven companies Growth / Pre-IPO: Selective late-stage positions in category leaders Geographic Focus GV maintains offices in San Francisco (HQ), New York, Cambridge (Boston area), and London. The firm invests primarily in North America with a strong European presence. GV Europe, led by Managing Partner Tom Hulme, has invested more than $1 billion in European and Israeli startups and counts Nothing (London), Synthesia (London), Attio (London), OMass Therapeutics, Lawhive, and Buena among its European portfolio. Team & Decision Process GV operates as a partnership with four Managing Partners (David Krane, Dave Munichiello, Krishna Yeshwant, Tom Hulme) and twelve General Partners overseeing day-to-day investment decisions. Each GP brings deep domain expertise in their sector. The firm's platform team includes engineering partners, executive venture partners, and portfolio operations partners who provide hands-on support to founders in talent, communications, marketing, and technical challenges. Uniquely, GV can offer portfolio companies access to Google and Alphabet's resources, technology, talent networks, and can invest in companies that may even compete directly with Google products — demonstrating true independence. Recent Activity (2024–2026) 2024–2026 has seen GV aggressively back the AI wave with major bets including leading Harvey's $100M Series C (July 2024), participating in Synthesia's $180M Series D (January 2025), leading Attio's $52M Series B (August 2025), participating in Vercel's $300M Series F at $9.3B valuation (September 2025), and leading Synthesia's $200M Series E at $4B valuation (January 2026). In 2025, GV made 62 investments — one of its most active years. Founder Preferences GV seeks technical founders with deep domain expertise who are 'moving the world forward.' The firm particularly values founders who combine technical depth with a clear long-term vision. They are drawn to 'a decade ahead' bets — companies tackling problems that will take years to fully materialize but whose early foundations are being laid now. Notable Exits Uber (IPO 2019), Slack (acquired by Salesforce 2021), GitLab (IPO 2021), Nest (acquired by Google), Flatiron Health (acquired by Roche), One Medical (acquired by Amazon 2023), ARMO BioSciences (acquired by Eli Lilly), 23andMe (various).