iFund announced


Kleiner Perkins Caufield & Byers (KPCB) has announced the launch of the iFund with $100 million in venture capital to invest in companies developing applications and services for Apple's innovative iPhone and iPod touch.

"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," said John Doerr, partner. "We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential."

The iFund will be invested in companies with market-changing ideas and products that extend the revolutionary new iPhone and iPod touch platform. Apple will provide KPCB with market insight and support.

Editor's note: Brilliant marketing

Refurbished iPhone, 8GB: only $349!