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It's still kind of mysterious – but startup 23andMe is getting traction. This week, the company announced a round of venture capital from Genentech, Inc. (NYSE: DNA) and Google, Inc. (Nasdaq: GOOG).

Something else: the cofounder of 23andMe is Anne Wojcicki, who is married to Google zillionaire, Sergey Brin.

Even though 23andMe is focused on the biotech market, there's still synergy with Google. That is, the company is developing cool technologies to decipher the genome. And to do this, you actually need to provide some of your own DNA (but, if you watch CSI, you know this is pretty easy).

So, if many people store personal information on websites (like credit cards), why not your genome?

Besides, it can be a great platform for researchers to devise innovative medical treatments.

As the website states: "Even though your body contains trillions of copies of your genome, you've likely never read any of it. Our goal is to connect you to the 23 paired volumes of your own genetic blueprint (plus your mitochondrial DNA), bringing you personal insight into ancestry, genealogy, and inherited traits. By connecting you to others, we can also help put your genome into the larger context of human commonality and diversity."

Yes, it's a brave new world after all.

And, if you want to check out more venture fundings, click here.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements.

I'm getting a bit sick of the high priests of corporate governance getting bent out of shape about every little violation of their puritanical standards. The latest episode is the kerfuffle over Google, Inc.'s (NASDAQ: GOOG) co-founder Sergei Brin's wife who started a company -- 23andMe that's developing ways "to help you make sense of your own genetic information" -- in which Google invested $3.9 million.

The media's offering some gossip to make the medicine go down more easily. According to the New York Times [registration required], Brin's wife, Anne Wojcicki -- the Times said it's pronounced Wo-JIT-skee -- is a likable overachiever who received a biology degree from Yale! Security was so tight at her wedding to Brin on a private Bahamas isle that those departing on Brin's custom jet didn't know where they were heading!! Brin doesn't flaunt his wealth in the real estate market -- he lives in "a quiet residential neighborhood in Palo Alto!!!" And Fortune posts that 23andMe's test discovered that Warren and Jimmy Buffett are NOT related!!!!

These articles miss the key question: "Will Google investors get a return on their $3.9 million?"

Google Inc. (NASDAQ: GOOG) invested $3.9 million in 23andMe, the bio-tech start-up of Anne Wojcicki, the wife of Sergey Brin, Google co-founder. While that's pocket change compared to Brin's net worth of around $14 billion (and even more of a drop in the bucket when you take into account the size of Google), it raises some interesting questions about ethics and conflicts of interest.

There's nothing inherently wrong about financing the start-up of a spouse of the company's founder, as long as it's done at arm's length. In terms of ethics, the question is, Would someone other than Ms. Wojcicki have been able to secure capital from Google for the same thing?

It seems unlikely. I can't find much record of Google investing in other bio-tech companies (if it does, it would probably be a sign of diworsification), although a Google spokesman said that the acquisition actually made strategic sense because, "They are developing new ways for people to make sense of their genetic information" -- and Google is all about information! Hmm . . .

This isn't a big deal, but it just doesn't smell quite right. At Enron, all employees were required to make their travel arrangements through an agency owned by Chairman Ken Lay's sister. Was that a big deal in itself? Probably not, but it was indicative of self-dealing on the part of the company's management that went far deeper than a travel agency.

Of course, I'm not suggesting for a second that Google is the next Enron, but I think investors should be on the lookout for more signs of related-party transactions and questionable dealings at Google.