DCM launches Google Android-focused fund
Venture firm DCM is to launch a $100 million fund focused on targets and developers surrounding Google Android’s mobile platform, touted as the world’s first Android-focused fund.
According to DCM, the $100 million A-FundSM's anchor investors include Japanese mobile gaming social network GREE Inc. and Japan's second largest mobile operator KDDI Corporation. Chinese digital communication giant Tencent joins DCM as a strategic partner and will also contribute funding.
The fund will specifically invest in companies such as startups that develop Android applications, software and programming. Its launch comes as Android's influence in the mobile sector grows, with 23.8 million mobile-phone and tablet users, according to ComScore, with DCM noting that in the past year the number of Android-enabled devices has grown 861%. Android is the top smartphone platform, leading competitors including Apple's iOS program.
DCM aims to announce additional partners in the A-Fund in the coming weeks, including a leading US-based semiconductor company, the firm added.
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