Reuters has reported that Google is planning a late-stage investment fund led by the David Lawee. The report states that the new fund could be separate from Google Ventures, Google’s existing venture fund. Lawee previously led corporate development and oversaw mergers and acquisitions at Google.

Google is planning a new late-stage investment fund, potentially separate from Google Ventures, its existing venture capital division, Reuters reported Friday. The report states that the new fund will be led by David Lawee, who a Google spokeswoman confirmed will be stepping down from his current position as VP of corporate development to work elsewhere in Google.

The Google spokeswoman also confirmed that Don Harrison, a lawyer at Google, will take the lead for Google’s corporate development beginning in 2013. She declined to comment on whether Lawee would be heading up the late-stage venture fund, or on plans for such a fund.

Google Ventures just expanded its fund to $300 million annually, up from $200 million, and it was established as a venture capital division in 2009. When Google Ventures recently announced the expanded fund, managing partner Bill Maris noted that Google co-founder Larry Page asked him what he would do with $1 billion, but that Google Ventures wasn’t ready to scale to that size yet.

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