- Mobile ads guru Eric Seufert launched Heracles Capital, a $10 million fund focused on mobile investments.
- Limited partners include media investment bank Aream, gaming firm Supercell, and individual investors.
- Check out the key slides from the fundraising deck that convinced investors to hop aboard.
Eric Seufert, the mobile marketing consultant and analyst who runs the Mobile Dev Memo industry website, has closed a $10 million fund to invest in mobile-focused startups in the gaming, adtech, social, and creator spaces.
Seufert, who previously worked at tech companies including Skype and Rovio, founded Mobile Dev Memo in 2012 and has become a prominent pundit on the mobile marketing space. Mobile Dev Memo offers a weekly newsletter, a podcast, and access to acommunity of mobile industry professionals.
The Heracles Capital fund, named after the Greek mythological hero, is the formal evolution of the informal syndicate that began in the Mobile Dev Memo Slack group, where Seufert and other experts shared his deal flow. But after 10 deals and as the group grew to some 400 people, the syndicate became an “administrative nightmare,” and Seufert shut it down in July.
Seufert, the sole general partner of Heracles Capital, began seeking investment in September and closed the fund in March after bringing 38 limited partners on board.
That speed validated the fund’s potential, according to Seufert. One high-profile investor, the adtech veteran and ex-Googler Ari Paparo who sold his most recent adtech startup to Comcast, jumped on board “within 30 seconds” of receiving the pitch, Seufert said.
“Eric knows more about mobile marketing than I do about adtech,” said Paparo. “There’s still enormous innovation taking place in the mobile ecosystem, but it often is walled-off from the more traditional adtech circles in which I live. So I welcomed the opportunity to get access to that deal flow.”
Other Heracles Capital limited partners include media investment bank Aream, mobile gaming company Supercell, VidMob CEO Alex Collmer, Huuuge Games CEO Anton Gauffin, Gamejam CEO Christian Calderon, and Forte Chief Business Officer Chris Akhavan.
Heracles has made 13 investments to date, including in audio ad-buying software firm Odeeo, blockchain gaming studio Laguna Games, and predictive analytics startup Assetario.
“The operating mantra of the fund is, investing in the future of mobile growth,” Seufert said. “My theory is that mobile is the dominating computing platform of my lifetime, and I don’t think that changes.”
See the key slides from the Heracles Capital fundraising deck below.