Mobile

Kleiner Perkins doubles iFund to $200M, embraces iPad buzz

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Leading venture firm Kleiner Perkins Caufield & Byers announced today that it has raised another $100 million for the iFund, its fund focusing on mobile startups, especially those building applications for Apple’s iPhone.

Partner John Doerr spoke at a press event in Menlo Park, Calif., today, where he said Kleiner has invested in 14 iFund startups (three of them still in stealth mode). The fund was basically depleted, which is why the firm raised another $100 million, bringing the total fund size to $200 million. That’s not just a sign of Kleiner’s continued faith in the iPhone but also of its excitement about the iPad, the Apple tablet device set to be released on Saturday (more on that in a separate post).

In addition to announcing the fund, Kleiner also shared the progress that current iFund companies are making. Those startups will make more than $100 million in revenue this year, their applications have been downloaded more than 100 million times, and 18 of their apps have reached the top 10 list in the iPhone/iPod Touch App Store.


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