Zoom is launching its own venture capital fund
$100m Zoom Apps Fund will invest in startups and portfolio companies
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In order to foster growth across its ecosystem and support its developer community,Zoomhas announced that it will launch a new $100m venture capital fund.
Thevideo conferencingcompany’s Zoom Apps Fund will invest in portfolio companies that aim to revolutionize the way in which Zoom customers meet, collaborate and communicate on its rapidly expanding platform.
After launching itsVideo SDKback in March, dozens of companies are now working on Zoom Apps integrations and the first batch of Zoom Apps demos and betas are now arriving.
In apress releaseannouncing the Zoom Apps Fund, founder and CEO of Zoom, Eric S. Yuan explained how it will help entrepreneurs build new businesses on the company’s platform, saying:
“I founded Zoom in 2011, nearly ten years ago. Without the support of early investors, Zoom would not be what it is today. What I’ve learned over the past year is that we need to keep meetings productive and fun. My hope is that the Zoom Apps Fund will help our customers meet happier and collaborate even more seamlessly, and at the same time help entrepreneurs build new businesses as our platform evolves.”
Zoom Apps Fund
With the launch of the Zoom Apps Fund, the company is looking to make an initial investment of $250k to $2.5m in each portfolio company. However, this investment goes beyond capital as the company is committed to helping its partners succeed.
Zoom aims to reward innovation that benefits its users by working with global partners to build out its platform in new and exciting ways. However, the company is always open to working with interested and innovative new partners regardless of investment status.
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Developers that are passionate about creating products and integrations that provide value to Zoom’s customers can visit theZoom Apps Fund websitefor more information and to apply.
After working with the TechRadar Pro team for the last several years, Anthony is now the security and networking editor at Tom’s Guide where he covers everything from data breaches and ransomware gangs to the best way to cover your whole home or business with Wi-Fi. When not writing, you can find him tinkering with PCs and game consoles, managing cables and upgrading his smart home.
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