US-based venture capital firm DCM is raising up to $100m for the second of its funds to invest in Android-focused startups, according to a regulatory filing.
DCM’s first A-Fund secured $100m in 2011 from limited partners including diversified internet companies Tencent and NHN, mobile network operator KDDI, social network Gree and venture capital firm GMO Venture Partners.
Like its predecessor, A-Fund II will concentrate on startups developing products based around the Android mobile operating system.
Companies that secured funding from the first fund include mobile communication app developer Life360, anonymous online message board Yik Yak and mobile communication app Daum Kakao, which went public through a reverse merger with internet portal Daum Communications in October.
Two of its other portfolio companies, file management startup Kanbox and mobile game developer Loki Studios, were acquired, Kanbox by e-commerce company Alibaba in September 2013 and Loki in May the same year.
Jason Krikorian, general partner at DCM, told Strictly VC in March: “[The A-Fund] has been really great and given us a lot of flexibility to do deals where we put in a few million dollars at a valuation in the high, double-figure millions.”