Three VCs join forces to fund apps for the long-anticipated Google Glass.
Google Ventures announced a partnership with Kleiner Perkins Caufield & Byers (KPCB) and Andreessen Horowitz to provide seed investment dealflow for entrepreneurs and developers building applications and software for Google Glass.
“More than any other platform I’ve seen before, I can’t imagine what [the developers] are going to do with this,” John Doerr, a general partner at KPCB said yesterday at the conference announcing the Glass Collective as the investment partnership will be called. Doerr said that these early days are "exactly the right time to kick-start an effort to support entrepreneurs" to build a platform on Glass.
The Glass Collective will function as a collaboration between the three firms, which will share every pitch related to Glass. No other firms will be invited to join. The Collective is looking to invest up to $2 million, starting with seed investments limited to the U.S.
As to what the Collective is looking to invest in, the ideas discussed at the press conference ranged from camera viewfinders to zombie games to applications related to science, healthcare, and education.
According to Google product director Steve Lee, the "Explorer Edition" of Glass will be sent out later this month, prior to Google's I/O developer conference, which will be held from May 15 to 17.
JANA KASPERKEVIC is a graduate of Baruch College, City University of New York, where she earned a bachelors degree in Journalism and Political Science. She covers start-ups, small businesses, and entrepreneurship for Inc. Her work has appeared in The Village Voice, InvestmentNews, Business Insider, and Houston Chronicle, among others. She lives in Brooklyn. @kasperka