Tapjoy has announced that it has launched a $5 million Tapjoy Asia Fund, designed to help mobile developers create free-to-play games for Android and iOS. It will give developers some money to get started, access to ad networks and development expertise.

“We are committed to helping developers bring fun, engaging mobile games and experiences to market successfully,” said Mihir Shah, Tapjoy CEO. “Providing a level playing field in which developers large and small can have their apps discovered will only strengthen the mobile marketplace for everyone. It is our hope that the Tapjoy Asia Fund will be as well received as the Tapjoy Android Fund we launched in the U.S. last year which resulted in 155 new apps being developed.”

Tapjoy currently has over 20,000 mobile applications and reaches more than 600 million mobile consumers. The company’s ad-funded payment platform and app discovery marketplace is used by thousands of app developers.