DCM & Partners Announce Android Fund
DCM along with Gree, KDDI and Tencent have announced their so-called $100M “A-Fund” targeted at Android Developers: http://bit.ly/mhocc8
Today, leading Pacific Rim technology venture capital firm DCM announced the launch of the world’s first Android-focused fund (“A-Fund”). The A-FundSM is a $100 million strategic investment initiative that will focus on startups developing compelling solutions taking advantage of Android’s rapid growth.
The A-Fund will be managed by DCM, an investor in early stage technology companies based in Silicon Valley, Beijing and Tokyo. Anchor investors include GREE Inc., Japan’s largest mobile gaming social network, and KDDI Corporation, Japan’s second largest mobile operator. Funding and support will also come from strategic partner Tencent, one of China’s largest integrated Internet services companies. DCM plans to announce additional partners in the A-Fund, including a leading US based semiconductor company, in the coming weeks. “There is an amazing array of ideas and talent waiting to be unleashed”
According to WSJ, The A-Fund has made four investments so far. The deals will be announced in the next month or so, along with the announcement of additional A-Fund partners, including a leading U.S.-based semiconductor company. More reactions from around the web.