Google is launching Google Capital, a new growth equity fund backed by Google and led by David Lawee, Scott Tierney and Gene Frantz. Like Google Ventures, Google Capital's goal is to invest in promising companies of tomorrow, but with one important difference. While Google Ventures focuses mainly on early-stage investments, Google Capital will be looking to invest in companies solely as they hit their growth phase. That means finding companies that have already built a solid foundation and are really ready to expand their business in big ways. Google said their investments to date include SurveyMonkey, Lending Club and Renaissance Learning.

"The most important-and distinctive-feature of Google Capital is how we work with our portfolio companies, said David Lawee, Google Capital partner. "Over the past 15 years, Google has built a strong business, and that's mostly thanks to the great people who work here. Our portfolio companies have abundant access to the talent, passion and strategic expertise of some of Google's technology and product leaders. While many investors may contribute money and advice to the companies they support, Google Capital is going beyond that and tapping into our greatest assets: our people. They help us succeed, and we believe they can help our portfolio companies do the same."