Venture capital firm DCM has created a $100 million fund for start-ups venturing into Google’s Android mobile OS ecosystem.
Apart from DCM, other companies participating in the A-Fund include Japan’s largest mobile phone carrier, investment firm KDDI, mobile social network Gree and Chinese internet company Tencent. The fund is likely to get more investors in the coming few months, including a US based semiconductor maker.
The Android investment fund reflects the iFund started by Silicon Valley venture capitalist firm Kleiner Perkins. The iFund now is around $200 million in investment and has helped fuel growth in the iOS ecosystem, The Financial Times reports (opens in new tab).
The A-Fund has set out with similar plans of encouraging companies to build apps and services for Android, the fastest growing mobile operating system in the world. Android Smartphones are on the verge of outselling Apple’s iPhone in the US market.
"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.
"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." he added.