Investment firm, DCM announced the launch of A-Fund, a $100 million investment focusing on start-ups which leverage on Android’s accelerating growth.
The fund was made possible with investment and support from GREE Inc., Japan’s largest mobile gaming social network, KDDI Corporation, Japan’s second largest mobile operation and Tencent, one of the largest Internet companies in China. More
The A-Fund will be managed by DCM, an investor in early stage technology companies based in Silicon Valley, Beijing and Tokyo.
“The rise of Android is a rare and massive opportunity – one that comes only once in a major tech cycle,” said David Chao, co-founder and general partner, DCM in the statement.
“The A-Fund will seek out the most promising companies enhancing and extending the rich open Android ecosystem – in mobile and beyond – including applications, services, and enabling technologies.”
Earlier this year, a comScore report indicated that Android’s market share in the U.S overtook Apple’s for the first time. Research firm, iSuppli Corp also estimated that the Google’s Android worldwide market share would outnumber iPhone by 2012.
“There is an amazing array of ideas and talent waiting to be unleashed,” said Yoshikazu Tanaka, founder and CEO of GREE. “The A-Fund will give startups the ability to take advantage of Android’s inherent international potential, and access to top investors and strategic partners across the world.”
Credit: Canalys data
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