So far iFund has financed [...] a soon-to-be-announced company that creates virtual worlds that one enters through the phone.
But some industry analysts are skeptical. Paul Kedrosky, a senior fellow at the Kauffman Foundation, which studies entrepreneurship, said a mobile software company would have to be sold for $90 million to $150 million after eight years for venture investors to earn an 18 percent compound annual rate of return on their $5 million investment. “Based on that size, you’d be the biggest mobile software company in the world,” he said.
Article Link (NYTimes)