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    New Handheld Venture Fund FoundedPosted By: Ed on Monday, February 05, 2001 10:38:57 AM
Robert J. Jordan, the founder of PalmComputing magazine, and Michael E. Tobin have started the Nomad Venture Fund, which is trying to raise $75 million to invest in start-ups that develop handheld hardware and software. The company has already found six possible companies to invest in, with each receiving somewhere between $1 million to $3 million. Mr. Jordan is very optimistic about the future of handheld computing. "In the future when you go into a retail store, you'll see literally hundreds of modules you can add on to a handheld device like a Handspring Visor," he said. He predicts that there will be 450 million PDA users by 2003. The Nomad fund will be larger than Palm's own Palm Ventures fund, which has $50 million. Read more about this on SiliconValley.com
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