If you've got a potentially groundbreaking new idea to shill, Google is quickly becoming the hottest place to pitch it.
The company's Android operating system is the most popular OS in the world; it already dominates the search-engine arena, and now it has become one of the top destinations for venture capitalists.
During the last year, Google Ventures took part in 71 different funding projects. Only two other outfits participated in more deals: New Enterprise Associates and Kleiner Perkins Caufield & Byers.
"Google has become a favored destination for entrepreneurs," said Anand Sanwal, CB Insights' CEO, to the New York Post.
"Google is doing stuff to help the companies recruit, making its technology and talent available to portfolio companies, and trying to plug the companies into the Google ecosystem, value another investor can't add," he noted.
Formed back in 2009, Google's venture capital arm has since invested in more than 200 startup firms, and it pours about $300 billion into projects every year. Seven investments have already been made since the beginning of 2013.
Perhaps more impressive than Google's willingness to sink money into potentially risky investments is the fact that it's seeing returns on them: In 2012 alone, the company saw exits from eight different firms.
For a peek into the search giant's entrepreneurial spirit, you don't have to look far. Last month, CEO Larry Page said that companies seeking to improve technology by 10 percent are doing it all wrong. What they should be focused on is improving products by 10 times that amount.
"It's natural for people to want to work on things that they know aren't going to fail," said Page. "But incremental improvement is guaranteed to be obsolete over time."
"Investors always worry, 'Oh, you guys are going to spend too much money on these crazy things.' But those are now the things they're most excited about — YouTube, Chrome, Android. If you're not doing some things that are crazy, then you're doing the wrong things."
Still, the goal of Google Ventures isn't to absorb startups into the company's overall operation. It has acquired two out of 200 investments, meaning it generally operates much like any other venture capital firm.
"Google acts like a traditional VC," said Sanwal to the Post. "There could be no strategic benefit to the mothership. It is looking for returns."
