The founder of Google Ventures is launching a new venture fund

Bill MarisGetty / Noam GalaiBill Maris, former CEO of GV and now the head of venture capital fund Section 32.

After a brief hiatus, Bill Maris is back in the venture-capital world.

The Google Ventures founder, who served as the firm’s CEO until August, is raising a new $230 million fund, according to Recode’s Kara Swisher. The fund will be called Section 32 and will focus on health care investments.

Recode reports that Maris will run the new fund himself without other partners and will remain in San Diego rather than move to Silicon Valley.

Maris founded Google Ventures in 2009. It was later rebranded as GV after the company restructured as Alphabet in 2015.

Under Maris, GV invested in Uber, ecommerce company Jet (which sold to Walmart for more than $3 billion in August), and Nest, which Google bought in 2014. Maris reportedly left the firm to spend time with his family, passing the torch to David Krane, who previously served as managing partner at the fund.

Maris’ departure from GV was one of many for Alphabet in the last several months. Nest’s Tony Fadell, Google Fibre’s Craig Barratt, Project Wing’s Dave Vos, and Chris Urmson, one of the original members of Google’s self-driving car project, have left the company in the last year.

NOW WATCH: Starting January 20, Trump could text you anytime he wants

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at