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Information Technology News Venture fund punts $US100m on iPhone & iPod apps
Information Technology News Venture fund punts $US100m on iPhone & iPod apps | Venture fund punts $US100m on iPhone & iPod apps |
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| by Stuart Corner | |
| Tuesday, 11 March 2008 | |
  
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KPCB says individual investments could be from as little as $US100,00 to as much as $US15m and "if we need more than $US100m, we'll find more money." The fund is prepared to fund investments from around the world. It will invest in companies building applications, services and components. Key areas of focus will be location based services, social networking, mCommerce (including advertising and payments), communication and entertainment. According to KPCB partner, John Doerr, "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. We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realise their full potential." iFund will be managed by KPCB Partner Matt Murphy in collaboration with partners Chi-Hua Chien, John Doerr, Bill Joy, Randy Komisar, Ellen Pao and Ted Schlein. Details at http://www.kpcb.com/initiatives/ifund/index.html |
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