GV's portfolio increasingly looks less like a collection of conventional software startups and more like a map of where technology may be heading next.
The venture-capital firm, originally launched as Google Ventures in 2009, now manages more than $13 billion and says it supports about 400 active portfolio companies across North America, Europe and Israel. Its investments run from artificial-intelligence software and cybersecurity to drug discovery, photonic computing, autonomous ships and satellite infrastructure.
That breadth matters because GV occupies an unusual position in the venture market.
Alphabet is GV's sole limited partner, but GV describes itself as an autonomous venture-capital firm rather than Google's internal product-investment department. It says it can invest across stages and even back businesses that compete directly with companies elsewhere in the Alphabet ecosystem.
That distinction is important when looking at its portfolio: a company is not a GV investment simply because it works with Google, uses Google technology or has another relationship with Alphabet.
AI Has Become a Major Part of GV's Portfolio
Artificial intelligence now cuts across much of GV's investment strategy.
The firm says its portfolio includes more than 100 AI companies, spanning applications, infrastructure, healthcare, developer tools and security. It separately says it has backed more than 50 AI-native application companies, more than a dozen companies in AI infrastructure, and more than a dozen developer-tool and security businesses supporting the AI ecosystem.
The portfolio illustrates how broad the AI investment cycle has become.
At the application layer, GV backs companies including Harvey, Hebbia, Synthesia and Sierra. These companies are not building the same product: Harvey focuses on AI for legal and professional workflows, Synthesia develops enterprise AI video tools, while Sierra is building customer-facing AI agents for businesses.
One of GV's most visible recent bets is Synthesia.
In January 2026, GV led a $200 million Series E financing that valued the London-based AI video company at $4 billion. Synthesia develops software that allows organisations to create video using AI-generated presenters and other synthetic-media tools, with much of its business aimed at corporate training and communications.
GV also led Harvey's $100 million Series C in July 2024 at a $1.5 billion valuation. Harvey has since raised additional financing from other investors and expanded its software for legal and professional-services work. Importantly, GV's participation in an earlier round should not be confused with participation in every later Harvey financing.
That distinction is useful when reading any venture portfolio: the presence of a company on an investor's website confirms a portfolio relationship, but it does not mean the investor participated in every subsequent funding round.
AI Infrastructure Is Becoming Just as Important as Applications
GV is also investing beneath the application layer.
Its AI infrastructure portfolio includes companies such as Lightmatter, SambaNova Systems, Snorkel AI, Deepset and Modular.
Lightmatter is particularly representative of the infrastructure thesis.
GV first invested in the company in 2019, during its Series A. Lightmatter is developing photonic technologies designed to move data between computing systems using light, an approach aimed at addressing bandwidth and power constraints in increasingly large AI systems.
The company later raised a $400 million Series D in October 2024 at a $4.4 billion valuation as it expanded work on photonic interconnect technology for AI data centres. That later financing reflects the broader industry's growing focus on networking and data movement, not simply faster processors.
Modular represents another layer of the stack. GV led its first funding round in 2022, backing the company's effort to build software that can make it easier to run AI workloads across different computing architectures.
Taken together, these investments suggest GV is treating AI as an entire computing ecosystem rather than a single software category.
Healthcare Is Becoming an AI Investment Theme
Healthcare has long been one of GV's largest specialist areas, but AI is increasingly connecting its technology and life-sciences portfolios.
GV says it has partnered with 20 AI healthcare companies, including insitro and Isomorphic Labs.
Isomorphic Labs provides one of the clearest examples of why the Alphabet distinction matters.
The drug-discovery company was created within Alphabet, but its presence in GV's portfolio is tied to an actual GV investment. In March 2025, Isomorphic Labs raised $600 million in its first external financing round. Thrive Capital led the round, GV participated, and Alphabet provided additional follow-on capital.
Isomorphic is developing AI systems intended to support drug design and discovery across multiple therapeutic areas. The company's technology aims to use computational models to help researchers understand biological structures and design potential medicines, although successful drug development still requires laboratory work, clinical testing and regulatory approval.
GV's healthcare portfolio also includes OpenEvidence, an AI-based medical information platform designed to help physicians search and interpret clinical literature.
GV invested in OpenEvidence in 2025 and led its Series B. The company combines natural-language querying with medical evidence, illustrating another side of healthcare AI: applying models to clinical knowledge rather than discovering new molecules.
The broader life-sciences portfolio extends well beyond AI, covering therapeutics, diagnostics, women's health and healthcare delivery.
Enterprise Technology Remains a Core Business
Even as AI receives more attention, traditional enterprise technology remains central to GV.
Its enterprise portfolio spans infrastructure, developer tools, cybersecurity, data systems and business software, including companies such as GitLab, Cockroach Labs, Snyk, Vercel, Redpanda and Cribl.
More recent investments show how enterprise software itself is becoming AI-native.
GV led the Series B investment in Attio in 2025. The London-based company is building a customer-relationship-management platform that incorporates AI into workflows and customer-data management.
In March 2026, GV also led the Series A financing of Translucent AI, which is developing financial software specifically for healthcare organisations. The company's system is intended to connect data from accounting systems, enterprise-resource-planning software, electronic health records and other hospital infrastructure.
These companies demonstrate how the boundaries between enterprise software, AI and vertical industry applications are increasingly disappearing.
Frontier Tech Takes GV Beyond Software
GV's "frontier technology" category is where the portfolio becomes considerably more physical.
The firm lists investments across space, robotics, agriculture, manufacturing, food technology and autonomous systems. Its current portfolio includes EnduroSat, Blue Water Autonomy, SpinLaunch, Agtonomy, Neuralink and others.
One of its most recent space investments is EnduroSat.
In September 2026, the satellite manufacturer raised $205 million in a financing round backed by GV and other investors. EnduroSat is developing standardised, software-flexible satellites and expanding manufacturing capacity for larger spacecraft used in commercial and government constellations.
GV had joined an earlier $104 million EnduroSat round in October 2025, when the company announced a new manufacturing facility in Sofia.
Another frontier investment is Blue Water Autonomy, which is developing autonomous surface vessels for naval applications. GV led the company's $50 million Series A in August 2025. The startup is designing unmanned ships from the ground up rather than simply adding autonomous controls to conventional crewed vessels.
GV moved further into space infrastructure in June 2026 by leading a seed investment in Nebex, a company building software and financial infrastructure intended to connect buyers, suppliers and capital providers in the commercial space industry.
These investments are much further from the traditional image of venture capital backing consumer apps. They involve factories, satellites, ships and long development cycles.
GV Is Also Making Bigger Frontier-AI Bets
One of GV's largest disclosed recent AI investments arrived in May 2026.
The firm co-led a $650 million early financing round for Recursive Superintelligence at a reported $4.65 billion valuation. The company, founded by Richard Socher and others, is working on AI systems designed to experiment with and improve their own software.
The company's ambition should be distinguished from a demonstrated outcome. Recursive says it is building systems around open-ended self-improvement, but the investment itself does not prove that practical self-improving artificial intelligence has been achieved.
That caution applies across venture investing.
A funding round is evidence that investors are willing to commit capital to a technological thesis. It is not evidence that the technology will reach commercial scale, satisfy regulators or produce the outcomes its developers expect.
Alphabet's Capital, but a Separate Investment Portfolio
GV's relationship with Alphabet remains one of its defining characteristics.
Alphabet supplies the capital as the firm's sole limited partner. GV, however, describes itself as having the autonomy of a conventional venture fund, with its own investment team and the freedom to back businesses across the technology landscape.
That means GV, Google and Alphabet should not be treated as interchangeable investors.
Isomorphic Labs, for example, received money separately from GV and Alphabet in its 2025 financing round. Waymo is an Alphabet company, but GV only became a direct investor when it participated in a later funding round announced in 2026.
The distinction may appear technical, but it matters when assessing who actually owns stakes in private technology companies.
Conclusion
GV's current portfolio shows how venture investing is spreading across increasingly interconnected layers of technology.
Artificial intelligence is the most visible theme, with more than 100 AI companies across applications, healthcare and infrastructure. But the firm's capital is also moving into drug discovery, cybersecurity, enterprise systems, photonic computing, autonomous maritime systems and commercial space.
Recent investments in Synthesia, EnduroSat, Recursive Superintelligence, Isomorphic Labs and Blue Water Autonomy illustrate the range: software on one end, capital-intensive physical systems on the other.
What ties the portfolio together is not a single technology.
It is a willingness to invest in businesses where software, AI, science and physical infrastructure increasingly overlap.
Whether all of those bets produce durable companies will take years to determine. That uncertainty is inherent to venture capital.
But GV's portfolio already offers a useful view of where one of the world's largest technology-focused venture firms is placing capital now: not only on the next AI application, but on the infrastructure, scientific tools and physical systems that may support the next generation of technology.
Nexuswild welcomes factual corrections. Email contact@nexuswild.com with evidence and the article URL.
