Menlo Park,
Calif. – Venture capital firm
Kleiner Perkins Caufield & Byers announced on Wednesday that it is doubling
its iFund, which provides financing to developers working on applications for
Apple’s (NASD: AAPL) iPhone and iPad, to $200 million.
The firm established the iFund in
2008 as a $100 million investment pool.
All of those funds are now fully
committed across 14 companies, with the firm noting that iFund companies have
been supported by an additional $300 million from follow-on investors.
The firm
said that iFund companies have generated more than $100 million of 2010 mobile
revenue, more than 100 million aggregate mobile downloads, and achieved 18
titles placed in the Top 10 on the App Store.
iFund-supported companies are also working on more than 20 applications for the
iPad, and will have 11 available when the device becomes available on Saturday.
Related Links:
http://www.kpcb.com/news/article.php?id=2010_03_31_ifund_doubled
http://snipurl.com/v6h50
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