Eniac Ventures, which touts itself as the “world’s first mobile seed venture capital firm,” announced that it has closed its first fund, which will focus on investing in the mobile software and services space. The partnership also announced that they have already invested in 6 promising young companies out of the fund – including Localytics, MightyMeeting, Instinctiv, and Philo.
In terms of people involved in the fund, there are Hadley Harris, Nihal Mehta, Vic Singh and Tim Young, all of whom have previously been engaged in founding, running, advising and investing in mobile start-ups such as ipsh! (acquired by Omnicom Inc), Vlingo, AdMob (acquired by Google), Movoxx (acquired by Adenyo), GetGlue and Payfone.
Unlike big venture capital firms Eniac says they are focused exclusively on small seed stage investments, which align their interests with the founders to grow the value of their company.
The fund is headquartered in New York City and Cambridge and their website is eniacventures.com.
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