Eniac Ventures Raises $1.6 Million To Invest In Mobile Companies

Posted Oct 5, 2010

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]