KPCB Dials In $100M iFund for iPhone Apps
by
Scott Martin
on
06 March 2008, 14:24
Categories:
Computers
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General news
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Magazine
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Media
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Communications
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Internet
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Finance
Topics:
apple
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iPhone
,
KPCB
Kleiner Perkins Caufield & Byers partner John Doerr shared the stage with Apple CEO Steve Jobs on Thursday to announce the venture capital firm will put up $100 million to seed development of applications for Apple’s iPhone.
"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," Kleiner Perkins Caufield & Byers partner John Doerr said in a statement.
The new fund, dubbed iFund, will invest in companies that want to bring new software applications to the iPhone and iTouch. The move comes as Apple announced the availability of its software development kit for outside developers.
KPCB’s backing underscores the evolution of mobile software and a new openness that will not only bring out armies of Apple fanatic developers but also a wave of startups.
"We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential," Mr. Doerr said in the statement.