Google Capital apparently has a stake in Snap Inc., the parent company of Snapchat app. The revelation came as Google Capital changed its name to CapitalG on Friday.

The portfolio page of the rebranded firm showed Snapchat logo on its portfolio page. Back in 2013, it was rumored that Google had tried to acquire Snapchat.

Google Capital was formed in 2014, and it mainly invests in mature companies. According to the company's website, its main function is to invest in "leading companies around the world." CapitalG also has investments in SurveyMonkey and Airbnb, apart from Snapchat. However, CapitalG is not the only venture investment arm of Google. The company also has GV, which backs early-stage companies.

Google's investment in Snapchat is likely to result in synergies between the two companies. Snapchat is one of the biggest users of Google's cloud infrastructure. Snapchat is now one of the biggest social media platforms. The segment has proved to be elusive to Google, which has made several attempts to carve a niche in the area.

Google Capital's investment in Snapchat is expected to bear fruits shortly as Snapchat is rumored to be planning to make an Initial Public Offering (IPO). The IPO may take place as early as next year. Snapchat is reportedly valued as high as $35 billion.

Apart from Google Capital, Snapchat has a slew of other influential backers including Yahoo and Alibaba. The company is also moving beyond its chat app and recently introduced Snapchat Spectacles for $130.