Google (GOOG) to Invest $100M in Venture Fund Over Next Year

According to the Wall Street Journal, Google (Nasdaq: GOOG) made a blog post last night announcing that William Maris and Richer Miner have been named as managing partners of the search-giant's highly anticipated venture-capital fund.

Named "Google Ventures", the segment will "find young companies with truly awesome potential and encourage their development into successful businesses". The Google fund will be different from most venture funds in that it will consider a very broad range of businesses, not just companies related to its product lines.

Citing sources familiar with the matter, the WSJ notes that Google will commit about $100 million in the fund over the next year.

Traders seem to be cheering the news today: shares of Google are up 1.4% to $347.

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