Facebook VC: We’re Investing in Facebook Apps Too

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For Facebook application developers, not all VCs are created equal…at least when it comes to the support they can lend your company if they also happen to, say, sit on the board of Facebook itself.

That’s the position Jim Breyer, David Sze, and Paul Madera find themselves in as they size up pitches from application developers for Accel, Greylock, and Meritech Capital, respectively. Not only do they have the inside track on spotting up and coming applications, but they also have the power to make life for an application developer considerably smoother.

As for Accel, Jim Breyer tells us that his fund is “actively evaluating important application developers” in the “video, utility, gaming, and entertainment” categories, but is not yet announcing any deals. Depending on how you look at it, that’s either great or terrible news to all the other video, gaming, and entertainment apps out there :)

However, it’s unlikely that Accel will launch a SNAP (Social Network APplication) fund like AppFactory at Bay Partners. Accel will just invest in Facebook app developers from their existing funds.

Cultivating the Facebook application economy is in nobody’s better interest than Accel, Greylock, and Meritech. Owning successful applications is twice is sweet when you own the platform too.

[tags]facebook,vc,accel,greylock,meritech[/tags]
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