Kleiner Perkins Caufield & Byers Thursday placed the venture capital industry's biggest wager yet on Apple's iPhone by launching a $100 million financing pool--dubbed the iFund—for companies developing services and applications for the popular device.

The fund, led by Kleiner partner Matt Murphy, also will support companies working on software for the iPod Touch, which shares many of the iPhone's functions but lacks its mobile phone capability. Though venture funds often follow investing themes like cleantech and Web 2.0, few are devoted to a single hardware platform.

Kleiner said iFund will roam from early- to late-stage investments in companies providing location-based services, social networking and mobile commerce capabilities.

"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," John Doerr, partner at Kleiner Perkins Caufield & Byers, said in a statement. "We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential."

Apple will provide guidance to Kleiner, according to the news release.

"Developers are already bursting with ideas for the iPhone and iPod touch, and now they have the chance to turn those ideas into great companies with the help of world-class venture capitalists," according to a statement from Apple Chief Executive Steve Jobs.

Also collaborating on the iFund will be KPCB's Mr. Doerr, Bill Joy, Randy Komisar, Ted Schlein and Chi-Hua Chien.