Photo: Dan Frommer, The Business Insider
Mobile startups — especially focusing on Google Android, especially in Asia — just got a new funding source: A $100 million “A-Fund” run by venture capital firm DCM, partnering with social firms Tencent and GREE and Japan mobile carrier KDDI. (Plus some U.S. partners, to be named eventually, says TechCrunch’s Sarah Lacy, who announced the fund.)This on the heels of Kleiner Perkins’ very successful iFund, which already has one big exit (Ngmoco) and got a smaller one this week (Pelago).
“DCM’s fund will focus on startups in Silicon Valley, Beijing and Tokyo and investment decisions will be jointly made by partners in all three locations,” Lacy writes.
In reality, the companies funded by the A-Fund will probably be developing for multiple mobile platforms, not just Android. Just as almost all the iFund companies (except Flipboard, last time we checked) make Android apps, too.