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Google Ventures founder and CEO Bill Maris steps down to tackle his new ideas

July 20th, 2011--Aspen, CO, USABill Maris speaks at the Cash Flow: Where The Angels, VCs, PE, and Public-Market Investors are Making Their Bets breakfast roundtable at Fortune Brainstorm TECH at the Aspen Institute Campus.Photograph by Stuart Isett/Fortune Brainstorm TECH
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Bill Maris, the man responsible for envisioning and setting up the financial arm of one of the largest tech firms in Silicon Valley Alphabet Inc., has quit after eight years of service. He is third high-ranking individual to step down and depart from Google’s parent company.

Maris has departed from his role as CEO of the investment firm to spend some quality time with his family and work on some new ideas of his own, reports Recode. His current position will be filed in by managing partner David Krane, who has been at Google for nearly 17 years. He was the company’s first communication director.

Founded in 2009 by Maris, an early web entrepreneur, GV(formerly known as Google Ventures) quickly climbed the stairs of success and crossed some of the most triumphant VCs in the Valley. GV, a venture capital firm with deep pockets, is known to make humongous investments in cutting-edge technologies, such as 3D printing and drones.

Maris managed over $2.4 billion worth of Google’s excess cash and led investments into some of the most-ambitious projects in the Valley. Some bets like those into the largest ride-hailing service Uber and e-commerce company Jet.com(recently acquired by Walmart) were a hit, while those like the messaging service Secret was a bust. In addition to this, some other big hitters include Nest, 23andME, Slack and many more.

In conversation with Recode, he told that he is stepping down from his role because of his family and that the investment firm is doing quite well right now. He also adds that he wouldn’t have left if GV hadn’t been operating at its full potential.

On being asked about what one could expect from him in the near future, Maris answered,

I’m a creative person. I need quiet and some solitude and some time. And I think a month or two will help me incubate some ideas.

Who knows about the creative process. You should definitively expect to see something from me. I’m not just going to go on the beach this week.

Although, GV cut down on investments in Europe and early stage startups under the leadership of Maris, but he was still willing to invest in exceptional ideas. The VC firm also increased its interest and investments in healthcare and biotech startups under his reign. GV’s investment rate has outpaced many other in the current funding scenario, according to CB Insights.

Maris, had a bold outlook towards entrepreneurship but was weary of early stage startups who were still trying to figure out their core business. He was very vocal and encouraged valued startups to go public instead of draining money from venture capitalists.

As stated above, other high-profile leaders to leave Alphabet in recent weeks, include Tony Fadell, CEO of smart-home division Nest and Chris Urmson, CTO and former director of Google’s self-driving car division.

IMAGE CREDIT: Fortune Live Media/FLICKR/under a CC 2.0 license

A hands-on guy fascinated by new apps, technologies and enterprise products.

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