GV, backed by Google parent company Alphabet Inc, appointed Michael McBride from software firm GitLab as its latest general partner to focus on open-source and AI startups backed by the company, the firm confirmed on Wednesday. McBride has been the chief revenue officer for the past five years of GitLab, an open-source developer tools maker in GV’s portfolio.
“I’ve learned a lot about how open source can give startup and growth companies a big advantage. I think it’s going to be a powerful business model in AI,” McBride stated. Dave Munichiello, general partner at GV, spoke about the company’s decision to invest in GitHub earlier this year, calling his firm “long-term investors” with the ability to invest in a company at any stage in its lifetime, specifically selecting the optimal time to invest.
Founded as Google Ventures, GV has $8 billion in assets under its sole limited partner Alphabet Inc. With the company split between investments in life science and digital firms, GV is active in North America and Europe.