Google Ventures launched in Europe in 2014 with a $125 million (£92.6 million) fund and five partners. Now, four years later, the separate fund has been rolled into the international fund, and there’s only one partner left, Tom Hulme. Peter Read left the fund in 2015, followed by Eze Vidra in an announcement on Christmas Day that same year. Former journalist, M.G. Siegler, moved back to the U.S. after helping set up the fund in the UK. The exodus of partners from Google’s European venture capital team continues, as general partner, Avid Larizadeh Duggan, announces her exit from the fund to join music tech startup Kobalt.
Kobalt gives musicians, songwriters, and rights-holders a better briefing on music streaming and which royalties they can earn. Larizadeh Duggan will join the company next month as executive vice president and chief strategy and business officer. The company said that she will lead its global strategy and business teams. She led Google Ventures’ investment into Kobalt in 2015, when the company raised a £40 million round of funding. At the time, Kobalt was Google Ventures’ first investment in Europe.
Larizadeh Duggan released the following statement concerning her new job: “As one of my portfolio companies while at GV, I had been closely witnessing Willard’s inspiring leadership and the Kobalt team’s commitment to build the music industry by putting creators first. Kobalt is on a clear mission to bring transparency, fairness, and efficiency to the music industry as a whole through the combination of technology, one of the best creative teams in the industry and bold vision. To have the opportunity to drive forward this mission and be part of Kobalt’s stellar team at such a key time in the company’s growth, is a real privilege.”
Kobalt founder and CEO, Willard Ahdritz, commented on Larizadeh Duggan joining the team: “Avid has a big passion for tech, building products and growing companies. Adding to that, she is a great person and team player. I am very happy to welcome her to the Kobalt executive team, where she will help us in continuing to build the new music industry.”