Eniac Ventures launches $1.6 Million Seed Fund for mobile startups
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Los Angeles: Eniac Ventures has launched a new $1.6 million seed investment fund, which will be invested in the startups in the mobile software and services space. The company, which was founded by Nihal Mehta, Hadley Harris, Vic Singh and Tim Young, expects to make investments ranging from $25,000 to $100,000, and has already seeded firms including Localytics, NearVerse, MightyMeeting and Philo. Beyond just providing capital, Eniac plans to mentor the startups they invest in by making introductions to partners (carriers, handset manufacturers, app stores, content providers), providing business development and marketing advice, and help with raising additional funding.

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