Beneficiaries to receive between $250,000 and $5 million each

Investments awarded to seven Android devs in Asia

MCV Staff 21st October 2011 Development News

Doll Capital Management has announced the first seven beneficiaries of its $100 million investment fund for Android entrepreneurs in Asia.

The investments in each company range from $250,000 to $5 million, DCM general partner Jason Krikorian told TechCrunch.

Android social gaming network provider PapayaMobile, which has more than 30 million users, was one of the recipients, as well as Beijing based studio Happy Elements and location game focused dev Loki Studios.

The other beneficiaries were white-label mobile app store platform creators Appia, payment service providers Billing Revolution, cloud storage company Kanbox , and cross-platform messaging start-up Kakao Corp.

Krikorian added that the fund aims to invest in approximately 30 companies over the next three years.

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