Google (GOOG) just told the SEC it’s invested $2.6 million in Anne Wojcicki’s biotech startup 23andMe.
Wojcicki is Google cofounder Sergey Brin’s wife, and he’s recused himself from the whole deal.
But it’s still a head-scratching investment. Not because of the family ties between the companies, but because why does Google want or need to own a piece of a biotech company?
Why is Google now a VC?
- “The best talent in the venture industry doesn’t work in large companies and won’t work in large companies.”
- “Corporate investors don’t really share the profit motive with the entrepreneurs.”