Google Ventures has reduced its involvement in seed-stage startups, said Bill Maris, president and chief executive of the venture firm that draws capital from Alphabet Inc., and has about $2.4 billion under management.

“We moved away from seed-stage investing,” Mr. Maris said. “I think there’s less opportunity here,” Mr. Maris said. He added that this part of the venture market is overheated.

Mountain...