Some of our VC readers may have missed the news, because it was buried somewhat in our larger story today about Apple’s iPhone news.
But Kleiner Perkins, one of Silicon Valley’s more respected VC firms, announced a massive fund to spur the development of applications for the iPhone. This “iFund” will dish out $100 million to developers, no doubt exciting developers even more about creating applications for the iPhone. You can submit an application to the fund here.
Kleiner’s John Doerr made the announcement. It is significant because Kleiner has focused most of its energy on clean-tech and pandemic initiatives lately, and has been seen by some as veering away from investments in information technology. The iFund continues Kleiner’s history of making bold initiatives to bet on platforms. You’ll remember its bet on Java technologies more than a decade ago, with it launched a Java fund (see our story about the Java Fund here).
The firm said the iFund will be led by KPCB partner Matt Murphy in collaboration with partners Doerr, Bill Joy, Randy Komisar, Ted Schlein, Chi-Hua Chien and Ellen Pa.
Kleiner said its existing companies Pelago, Dash, GOGII, and Pinger will collaborate closely with the iFund initiative.
Tags: ifund, inv:kleiner-perkins2 Comments
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Michael Martin said:
Did the fbFund start a new trend? Anyone know of another fund targeted specifically at fostering applications for a new platform?
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Allan said:
Love these new platform specific funds. Lots of opportunities out there for developers and entrepreneurs.
4 Trackbacks
12:06 pm
If the iPhone SDK is a “joke”, Apple will be laughing all the way to the bank » VentureBeat said:
[...] As I note in the headline, Apple is going to be laughing all the way to the bank with the iPhone SDK — limitations or not. The company has already seen an overwhelming number of SDK downloads and venture firm Kleiner Perkins has seen a massive initial response to the iFund initiative they set up to give developers funding to make iPhone apps (our coverage). [...]
9:52 pm
Karaoke app launched on iPhone, demoed on Android » VentureBeat said:
[...] The next-generation iPhone will launch soon, and development for it will only heat up, partially thanks to the $100 million iFund raised by Kleiner Perkins. [...]
3:06 pm
RIM’s Blackberry announces $150M fund, to compete against iFund » VentureBeat said:
[...] developers building applications that run on the Blackberry. The fund comes on the heels of the iFund, a similar $100 million fund announced by Kleiner Perkins, a well-known Silicon Valley venture capital firm, to support the RIM Blackberry competitor, the [...]
1:04 pm
BlackBerry adds Windows Live, releases Bold new device in quest to stave off iPhone » VentureBeat said:
[...] million fund for developers creating applications for the BlackBerry, following on the heels of Kleiner Perkins’ $100 million iFund for the iPhone. Rick Segal, a partner at JLA Ventures (an investor in the BlackBerry fund), told us [...]