Google (GOOG) is launching a new Google Capital equity fund to help out companies that are still in their growth-stage.
The tech giant is looking to back up startups such as SurveyMonkey and Lending Club in order to help them succeed. No financial figures have been released but Bloombeg reported on Wednesday that Google is already investing over $300 million in Google Capital.
Much of this money will be used for online education. Renaissance Learning is an education software and hardware vendor and it is one of the companies that is already in the Google Capital portfolio.
GOOG stock is down about 0.4% Wednesday.