Google Ventures will invest up to tens of millions of dollars in exceptional start-ups. Website image courtesy of Google Inc.

Google has announced the launch of a venture capitalist arm that will help find and develop “exceptional” start-up companies.

Google Ventures will invest anything from seed funding to tens of millions of dollars, depending on the stage of the opportunity and the company’s need for capital. It will focus initially on companies operating in industries including consumer internet, software, hardware, clean-tech, bio-tech, health care and others.

Managing Partners Rich Miner and Bill Maris said in the Google blog: “First and foremost, we’re looking for entrepreneurs who are tackling problems in creative and innovative ways. As a venture fund, however, we’re also looking for investments with the potential for significant financial return.

“We invest anywhere from seed to mezzanine stage and embrace the challenge of helping young companies grow from the garage to global relevance.”

The team behind Google Ventures includes entrepreneurs, investors and innovators, along with some 20,000+ Googlers.

Despite the global business climate, Google Ventures is upbeat: “Economically, times are tough, but great ideas come when they will. If anything, we think the current downturn is an ideal time to invest in nascent companies that have the chance to be the “next big thing,” and we’ll be working hard to find them.”

For more information, visit: www.google.com/ventures.