Eniac Ventures Raises $1.6 Million To Invest In Mobile Companies

Four mobile start-up entrepreneurs and investors have started a company called Eniac Ventures. Eniac raised $1.6 million in its first fund to invest seed capital into mobile start-up companies. Eniac will put in about $25,000 to $100,000 into each mobile company over the next 4 years. Eniac’s partners include Vic Singh, Nihal Mehta, Hadley Harris, and Tim Young. Mehta was an angel investor in AdMob, a company acquired by Google for $750 million. Eniam has already invested in six mobile companies including Localytics, Instinctiv, Philo, and MightyMeeting. [VentureBeat]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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