fbFund No More?
Things have been a little slow on the fbFund front this year. The site hasn’t posed an update since January, and you probably won’t be hearing about new ventures anytime soon.
Inside Facebook reports that fbFund appears to be "mothballed". fbFund is a seed fund and joint venture run by Facebook Founders Fund and Accel Partners. Investment capital for the fund was provided by these entities.
fBfund gave startups up to $100k in investment, as well as access to key people, presentations on technology, product, marketing, and business topics, mentorship, and even office space. Eric Eldon writes:
After noticing that the company has been completely quiet about fbFund plans so far this year, we asked it about its plans. "At this time we have no plans for future iterations of the program," a company spokesperson tells us, “but we will keep you posted as soon as we have anything new to share.” The company also says that it will "continue to support innovation from the startup community through initiatives like the developer garage program."
fbFund operated for two years, funding companies building Facebook’s developer platform, and as Eldon points out, it has kind of taken a backseat to the big boom in the social gaming market.