Facebook launches fbFund to invest in Platform developers
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Facebook co-founder Mark Zuckerberg just announced at TechCrunch40 today that Facebook is launching fbFund, a $10 million venture fund to invest specifically in Facebook Platform developers. fbFund will be backed and managed by Jim Breyer of Accel Partners and Peter Thiel of Founders Fund; Facebook itself will not invest in the fund, but will apparently play an active role in managing it.
fbFund will grant between $25,000 and $250,000 per startup, putting it somewhere between a traditional seed fund and ultra-early-stage fund like Y Combinator.
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