Mr. Maris abandoned plans for a larger $230 million fund in December 2016, but is now moving ahead with the smaller fund. He is the sole investor of the fund, called Section 32. It is slated to close at the end of March or early April.
Mr. Maris reportedly “resurrected Section 32 when he found investors who supported him running it from San Diego and without other investing partners,” a person close to the matter told Bloomberg.
Google Ventures is Mountain View, Calif.-based Alphabet’s venture funding arm.
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