CapitalG (formerly Google Capital), one of Alphabet’s two venture capital arms, has added social media company Snapchat to its list of investments.
On Friday, Google Capital re-branded as CapitalG, according to its site, the arm “invests in people who are passionate about using technology to change the way we live and companies that are harnessing the technologies of tomorrow. We meet with entrepreneurs from all over the world and are currently partnering with companies in the USA, China and India”.
Though our name has changed, our goal remains the same: to make returns-driven investments in leading companies around the world.
— capitalg (@capitalgtweets) November 4, 2016
We look forward to giving you news and updates on our fund and portfolio companies. Check out our new website at: https://t.co/S0LaYMXMFF pic.twitter.com/C4xgg33u9X
— capitalg (@capitalgtweets) November 4, 2016
Winnie King, a spokeswoman for Google, confirmed with CNNMoney that Snapchat is one of Google Capital’s portfolio companies, but declined to answer on the reasoning or size of the investment.
Other prominent Snapchat backers include Alibaba, Yahoo and Fidelity.
Here’s a cheat sheet about company Alphabet, of which Google is a subsidiary.
