Kleiner Perkins doubles iFund to $200 million | iLounge News

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Kleiner Perkins doubles iFund to $200 million

Kleiner Perkins Caufield & Byers (KPCB) has announced that it is doubling its iFund to $200 million of venture capital for iPhone apps. Originally announced in March 2008, the iFund is pool of funds designed to help KPCB find and back budding iPhone developers. According to the company, the entire original $100 million iFind is now fully committed across 14 companies, accounting for more than $100 million in 2010 mobile revenue, more than 100 million aggregate mobile downloads, and 18 titles that reached the Top 10 on the App Store. In addition, iFund-supported companies have more than 20 applications in development for the iPad, 11 of which will be available on April 3: seven games from ngmoco including We Rule, GodFinger and WarpGate, Doodle Buddy and Star Smash from Pinger, textPlus from GOGII, and Shazam from Shazam Entertainment.

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