Chi-Hua Chien from KPCB spoke about the status of their $100M iFund at iPhone Dev Camp 3 last night. Key points, about $45M invested. 4000 proposals, 250 companies met, etc, etc, etc, and the bottomline 7 companies funded. The list:
- Pelago – 2 guys in Seattle
- Gogii – ex-Jamdat
- iControl – more like a Series B (or C?)
- ngmoco:)
- Booyah – ex-Blizzard people
- hush-hush mobshop – 1 guy working for about a year at KP’s office
- can’t tell you or I’ll have to kill you
The “biggie” categories iFund is interested in are:
- Mobile Commerce
- Real-Time Everywhere and Anywhere
- Local Search
- Healthcare – funded a company that has a real time monitoring of health signs
- Augmented Reality
- Real-World Gaming
And he (as well as most VCs I know) are looking for the following in any proposals:
- Market
- Team – proven team. See list of funded companies above.
- Technology – defensible. Patents help in the long run, but having “hard to do” technology is what helps you in the near term.
- Product
- Business Model – last but not least. Dotcom is so 90s.
August 3, 2009 at 11:19 am |
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