Doll Capital Management, an investment body with a focus on developing companies working in the Android market, has announced the first seven beneficiaries of its $100 million fund, including three game developers.
Papaya Mobile, an Android gaming network boasting a rapidly expanding customer base of over 30 million users across Europe, China and the US, was named alongside Beijing studio Happy Elements and location-game studio Loki Studios in receiving investment.
Four other Android companies were selected in the round: Appia, Billing Revolution, Kanbox and Kakao Corp.
The exact amounts of cash invested were not revealed, but DCM says that each was between $250,000 and $5 million. The fund expects to make a further 30 such investments over the course of the next three years.