Google Capital, one of Alphabet`s two venture capital arms, quietly added Snapchat to its list of investments as part of a brand refresh and website redesign on Friday.

No details were provided about the timing, reasoning or size of the Snapchat investment.
Winnie King, a spokeswoman for Google, confirmed that Snapchat is one of Google Capital`s portfolio companies, but declined to comment beyond that. Noah Edwardsen, spokesman for Snapchat, said the company does not comment on financing.

Google Capital re-branded Friday as CapitalG (Alphabet, get it?). It was formed in 2014 to invest in more mature businesses. The goal, according to its website, is "to make returns-driven investments in leading companies around the world."

This investment operation has also backed Airbnb, Glassdoor and SurveyMonkey. GV, Alphabet`s other venture capital arm for early-stage companies, has invested in Uber and Nest, the latter of which Google ended up acquiring for $3.2 billion in 2014.

An investment in Snapchat opens the door for a closer relationship with a buzzy startup that is expanding into several areas of interest for Alphabet.

Snapchat is a rising star in social media, long a weak spot for Google (GOOGL, Tech30). It also recently expanded into hardware with Spectacles, a pair of sunglasses with a built-in wireless video camera. The product quickly drew comparisons to Google Glass, its failed attempt at smart glasses.

Beyond that, the investment gets Alphabet a ticket to what is expected to be one of the hottest upcoming tech IPOs since Facebook (FB, Tech30).

Snapchat, which recently re-branded as Snap Inc., has raised more than $2 billion in funding and is widely rumored to be planning a public offering early next year at a valuation as high as $35 billion.

Other prominent Snapchat backers include Alibaba (BABA, Tech30), Yahoo (YHOO, Tech30) and Fidelity.

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