Palo Alto, Calif. – Venture capital firm Kleiner Perkins
Caufield & Byers on Thursday announced the launch of a new $250 million
fund that will be used to invest in entrepreneurs inventing social applications
and services. Also backing the fund are Amazon.com (NASD: AMZN), Facebook, Zynga, Comcast (NASD: CMCSA),
Liberty Media (NASD: LINTA) and Allen & Co.
The "sFund" will be led by KPCB
partner Bing Gordon, former chief creative officer and longtime executive at
Electronic Arts and board director of Amazon.com and Zynga.
In addition to
funding, Amazon will provide sFund investments with access to its Amazon Web
Service, while Facebook will provide access to Facebook Credits and other
resources; Zynga and Comcast will also contribute company resources.
follows on the firm’s successful "iFund," which focused on iPhone
application development and backed firms such as the recently-acquired Ngmoco.
investments in the social space by KPCB include Cafebots, Flipboard, Jive and