Google invests another $2.6 million in Brin's wife's biotech startup firm

19 June 2009

Being married to Google co-founder Sergey Brin, the 26th richest person in the world, has its advantages as Anne Wojcicki, Brin's wife and co-founder of privately-held biotech startup company 23andMe Inc discoverd when her firm received an investment of $2.6 million from the world's biggest internet company yesterday.

The investment was revealed by Google in a filing with the US Securities and Exchange Commission, saying it invested $2.6 million in a Series B preferred stock in Mountain View, California-based 23andMe.

The $2.6-million investment made by Google is over and above the $3.9 million made by the internet giant in 23andMe in May 2007, shortly after Brin and Wojcicki were married and was followed by an additional $0.50 million investment in November 2007.

Google said in the filing that it continued to hold a minority interest in 23andMe as a result of the latest Series B investment, and Brin, who had personally invested $10 million in his wife's company, has converted the $10 million worth of 23andMe debt into preferred company stock as part of the transaction.

Incidentally, Brin, who is Google's president, technology,  holds 38 per cent of Google class B common stock..

Google has also become 23andMe's landlord from this month after entering into a lease agreement with 23andMe. In its filing, the internet giant said that Google's Audit Committee reviewed and approved the investment and lease transactions as part of Google's procedures for entering into transactions with related parties.