Kleiner Perkins Caufield & Byers Launches $100M iPhone Fund

Authored by Mark Hefflinger on March 6, 2008 - 12:07pm.

Menlo Park, Calif. - Kleiner Perkins Caufield & Byers (KPCB), a venture capital firm focused on technology, said on Thursday that it has launched a new $100 million fund to invest in companies developing applications and services for Apple's (NASD: AAPL) iPhone and iPod touch. The iFund, as it is known, plans to back companies with "market-changing ideas and products" related to the popular devices.

"We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential," said John Doerr, a partner at KPCB.

Apple will serve as an advisor.

"We can't wait to start working with Kleiner Perkins and the companies they fund through this new initiative," said Apple CEO Steve Jobs.

The iFund will be led by KPCB partner Matt Murphy in collaboration with partners Doerr, Bill Joy, Randy Komisar, Ted Schlein and Chi-Hua Chien.

http://www.kpcb.com/initiatives/ifund/index.html

Published in DMW Daily, March 6, 2008

Previous story: House Subcommittee Passes Intellectual Property Bill
Next story: Music Managers Enquiring on YouTube Ad Revenue-sharing

Email this page

add to:

del.icio.us |

digg | Yahoo! MyWeb | Slashdot

Comments

iPhone's iFund

Submitted by Allan (not verified) on March 9, 2008 - 6:16pm.

Love these new platform specific funds. They create a lot of opportunity for entrepreneurs and developers and also helps to focus energy and idea creation. There's a lot less guesswork about what is in demand by VC community.