Search giant Google is considering setting up a venture capital investment arm on its own, reported the Wall Street Journal.

The investment business will be spearheaded by David Drummond, Google’s senior vice president of corporate development and chief legal officer.

The Journal said that Google has appointed William Maris, a former Web hosting entrepreneur, to help set up the unit. But any decision to go ahead with the venture capital arm is in its preliminary stages and no firm decision has yet been taken.

If Google does move ahead with the VC arm, it would be an add-in to the list of other tech and media firms, such as Intel, Comcast and Walt Disney, which have launched VC units on their own. X