It was back in 2010 when we first touched on Eniac Ventures and their mobile-only fund. That initial fund backed no less than 42 early stage mobile investments with 6 exits in its first three years of existence. These include Fondu which was acquired by Airbnb, Instinctive by Soundcloud and MetaResolver by Millennial Media.
Now Eniac is out with an even bigger fund, with $12.9 million set aside to invest in cool mobile startups. This new fund has already invested in few companies, including BioBeats, Boxed, Glide, Just Sing It, Reactor, TapCommerce and Vistar Media.
The Eniac II fund seeks to invest $200,000 to $300,000 in syndicated seed rounds while holding additional funds for follow-on funding.
Eniac Ventures’ four founding general partners are among the mobile technology pioneers:
- Nihal Mehta was the CEO and Co-Founder of Ipsh!, which sold to Omnicom, as well as an early investor in AdMob, which sold to Google in 2010. Mehta is also the founder of LocalReponse.
- Hadley Harris was the Head of Business Strategy and Vice President of Marketing at Vlingo which was acquired by Nuance for $225M, as well as the CMO of Thumb, which was acquired by Ypulse in mid-2013.
- Tim Young has 14 year experience building early stage ventures as an entrepreneur, investor, and attorney, both in Silicon Valley and New York.
- Vic Singh has more than 12 years of experience operating and investing in mobile and is currently the CEO of Kanvas.
In other words, these guys know the game and if you’re a mobile startup looking for both the money and some rock-solid advice, you should check them out.