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DCM creates iFund-like $100m A-Fund pool for Android

updated 02:55 pm EDT, Thu April 21, 2011

DCM A-Fund giving 100m cash to Android services

Venture capitalists at DCM on Thursday unveiled an Android equivalent to the well-known iFund. A-Fund will give startups and other companies a total pool of $100 million to support apps, hardware, and services for Android. The funding will get help from Japanese carrier KDDI, local social network GREE, and Tencent, the founder of Chinese portal QQ.

Although not limited to anyone area, DCM general partner David Chao explained that the A-Fund was meant for areas such as China and Japan, where Android is growing. It would also focus on addressing the lack of media and tablet apps that have been sore points for Android. Companies wouldn't have to be exclusive to Android, though the focus would be on those who consider it a main priority or who are doing something Apple's iOS app policies wouldn't allow.

The first two investments are already near finalizing.

Android Market has quickly grown to be the second most popular mobile app store with about 150,000 apps and three billion app installs so far, but its growth has mostly cooled down and stayed behind with that of Apple's 350,000-plus App Store count. Among the challenges have been simple discovery of apps but also a greater amount of piracy and malware, the combination of which has discouraged some developers. A financial boost may help fuel professional-level content and could also lead to phones and tablets that address the needs of specific countries that might otherwise be excluded.

The concept has been successful in the past. KPCB's iFund helped fuel companies like Rolando creator ngmoco and spurred on the early iPhone app market. [via AllThingsD]



By Electronista Staff
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Comments

  1. Bobfozz

    Fresh-Faced Recruit

    Joined: Jul 2008

    -1

    pinning hopes on Android

    These people can't manipulate, influence or boss Apple around, so they want to get to the Android crowd, some of whom believes "anything should be allowed." In the old days that was a "try," but I think the "field" is different now. Fragmentation, piracy, exploits, and bad apps will no longer rule. Apple Hating, instead, will go on.

  1. testudo

    Forum Regular

    Joined: Aug 2001

    -2

    huh?

    How come every article always ends up becoming about Apple, people?

    Some group of investors put together the iFund for iOS, and it's all great this and what an idea and good for Apple.

    Some other group does the exact same thing for Android, and it's all about how they can't control Apple and they're going against apple or some stupidity.

    Apple Hating, instead, will go on.

    As will Apple-centrist view of a certain collection of people, apparently. You all really should realize Apple isn't the small-guy working out of a garage that needs your protection from some group of Apple-hating people out there. Apple's the one who's swinging the big stick now. They don't need you to 'protect' their reputation.

  1. facebook_Clarence

    Via Facebook

    Joined: Apr 2011

    +1

    Android Fund

    That's excellent. I am looking forward to seeing what becomes of this fund!

    - Sent from my Android device.

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