One of Google's former top investors has a new $175 million fund for tech companies solving society's biggest problems

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Scott Tierney, Valo Ventures partner and co-founder of CapitalG, wants to see tech help society with a new fund.

and take that and apply it in the physical world?' " Tierney told CNBC in an interview. "How can we exploit these types of technologies by [making them] available to other industries? That's a big part of our philosophy."

Valo Ventures' partners gave examples of investment areas they'd like to fund, including tech that enables collaboration for users of marginalized communities, artificial intelligence and diversity, all of which have been compromised by and within large tech companies like Google and Facebook.

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