Google Launches Venture Capital Fund with Commitments of $100M in First Year

Google, Inc., which last year announced its intention to form its own venture capital fund, has announced it will commit $1 million to the Google Ventures fund over the next year.  The fund has made its first investment in Pixazza, Inc., a start-up that allows Web publishers to earn money by tagging images of items, such as clothing, with links to where the items can be purchased.  Google says it will not limit its investments to companies related solely to its product lines, but instead will manage for returns across a wide range of investments in consumer Internet, software, clean tech, biotechnology and healthcare.  

For more details, see the story in the Wall Street Journal:  http://online.wsj.com/article/SB123847964976273011.html