Tag - KPCB
Kleiner Perkins Caufield & Byers at an event Thursday provided a look back at the performance of the iFund slightly more than three years since it was first started. The group considered it a success as it had decided to fund 25 companies that, combined should have 300 million downloads by the end of 2011. Two of the companies, ngmoco and Pelago, had found buyouts, while exercise-oriented Worksmart Labs was getting funding to expand beyond Android and develop iOS apps.
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.