Google ( GOOG) is expected to announce Tuesday it is committing about $100 million to its venture capital fund in its first year, a report says.

The Internet search giant said last year it was considering launching a fund but provided few other details, the Wall Street Journalreports.

Google is expected to announce that William Maris, a former entrepreneur whom Google hired to start the fund, and Rich Miner, a former executive in its mobile unit, will be partners with the fund, the Journal reports, citing people familiar with the matter.

A Google spokesman told the newspaper that Google has been discussing the possibility of a venture capital fund but doesn't have anything to announce "quite yet."

The fund, expected to be called Google Ventures, is seeking to operate less like a traditional corporate venture arm that backs companies related to its product lines, according to the Journal. Instead, the company is going to manage for returns and consider a wide range of investments, people familiar with the matter said.