Mobile Dev Memo has formed a new fund known as the MDM Investment Syndicate.
As detailed in a site update, the new investment initiative will offer monetary backing to both seed and pre-seed mobile-centric start-ups every year. When it comes to investments, syndicate members will be presented deals and can choose whether or not they wish to back the project.
When it comes to investment size, each deal will secure between $50,000 and $100,000 from the MDM Investment Syndicate, with each individual investor putting up at least $2,500.
Deal or no deal?
Companies that may qualify for funding include games and other consumer applications, mobile ad tech, streaming services, commerce, mobile-first fintech and mobility. Furthermore, each quarter it is believed that the MDM Investment Syndicate will secure one or two deals.
"As the syndicate sponsor, I will source investment opportunities from my network and from the Mobile Dev Memo community and present them to the syndicate," said MDM Investment Syndicate sponsor Eric Benjamin Seufert.
"Members of the syndicate can decide whether they want to invest in any given deal or not. The size of investments made by the syndicate will range from $50k – 100k, and the minimum investment contribution for syndicate members for any given deal is $2,500."