David Krane, CEO of GV, the venture firm funded entirely by Google, has revealed the firm's investment strategy and autonomy in a recent TechCrunch StrictlyVC event in San Francisco. Krane shared that GV has invested in an impressive 800 companies over the last five years, with a total investment of over $10 billion across its 15-year history.

GV's investment approach is notable for its lack of restrictions, with Krane stating that the firm invests purely for financial returns. This autonomy has allowed GV to operate freely, with no limitations on how it can invest. As a result, GV has invested mostly in the U.S., with roughly half a billion invested in its second-biggest market, Europe. The firm's investment focus is split evenly between life sciences, healthcare, and biotech, and a broad "digital" category.

One of the most significant investments made by GV was a $258 million Series C round in Uber in 2013, which was funded solely by GV. More recently, the firm invested $140 million in data infrastructure startup Cribl as part of a $319 million Series E round in August. These investments demonstrate GV's willingness to make big bets on promising companies.

Krane also addressed the potential for conflict with Alphabet's growth stage outfit, CapitalG, which also invests in startups. However, Krane downplayed the idea of competition between the two groups, stating that good communication is key to avoiding conflicts. Both GV and CapitalG have invested in companies like Stripe and Cribl, but Krane emphasized that their shared funding source eliminates the need for competition.

One notable exception to GV's investment approach is partnering with companies that compete directly with Google. Additionally, GV avoids actively enticing talent from within Google to start their own companies, which would allow GV to be the first to fund them. Krane cited the example of members of Google's AI-driven note-taking tool NotebookLM, who recently left to start their own company. While GV may consider funding such startups, Krane emphasized that the firm does not actively encourage Google employees to leave and pursue startups.

GV's relationship with Google is complex, with Krane acknowledging that the firm's investments can keep entrepreneurs close to the mothership while also encouraging them to try their luck. However, Krane emphasized that the goal is for entrepreneurs to stay at Google and build transformational products. Ultimately, GV's autonomy and investment approach have allowed the firm to thrive, with Krane's leadership playing a key role in its success.

To learn more about GV's investment strategy and Krane's insights, listeners can access the full conversation or watch the video below.