Android creator Andy Rubin is raising $300 million for a new project

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By Larry Banks

Andy Rubin, the man responsible for creating Android that left Google last year, has just raised $242 million for his venture fund Playground Ventures, according to an SEC filing that was discovered this week by website PE Hub. He apparently intends to raise $300 million.

Andy Rubin is busy raising funds

It was also discovered this week that he had already raised $48 million for another fund – Playground Global, which will provide support to new companies creating hardware devices.

One of the directors will be Matt Hershenson (who worked with Rubin at Danger, the company he started prior to Android). The other partners are WebTV co-founder Bruce Leak and fellow Peter Barrett. Rubin previously worked at WebTV in the 1990s.

Rubin will also return to Redpoint Ventures, where he started Android, and will spend one day at the firm to research potential investments in tech companies. Redpoint was one of the very first investors in Playground Global.

Andy Rubin Android

This is the first time that Rubin left Google in October 2014 that we’ve heard much about his plans. He worked at the search engine firm since it bought Android in 2005, but he left the Android group in 2013 to lead the robotics division instead.

When he left Google, he said that he would start an incubator for hardware startups, but until now there have been scant details. Based on his previous history, it could be an ideal move for Rubin, who worked at Redpoint before creating Android.

“I think Andy is probably the best person in the world to take something from zero to one”, said someone who worked with Rubin recently.

“He’s an entrepreneur. He likes to think fast and innovate”, another person who worked with Rubin years ago said in an interview. “I think that at some point, Android got so big that it’s not necessarily that same challenge. And I think he still wants to have some more challenges and make some more great things happen”.

SOURCE: Redpoint.

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