Thursday, March 06, 2008 at 03:33 PM | Posted by kazouz
Kleiner Perkins Caufield & Byers (KPCB) today announced the launch of the iFund with $100 million in venture capital to invest in companies developing applications and services for Apple’s innovative iPhone and iPod touch.
The iFund, managed by KPCB, will be invested in companies with market-changing ideas and products that extend the revolutionary new iPhone and iPod touch platform. Apple will provide KPCB with market insight and support.
“A revolutionary new platform is a rare and prized opportunity for entrepreneurs, and that’s exactly what Apple has created with iPhone and iPod touch,” said John Doerr, Partner at Kleiner Perkins Caufield & Byers.
“We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential.”
The full press release can be read here.