iPhone, iPhone SDK and $100,000,000 of iFund, Awaits iPhone and Ipod Touch Apps.

KPCB, KleinerPerkins Caufield & Bayers will invest $100,000,000 of venture capital in companies developing applications for iPhone and iPhod Touch.

So if you got your iPhone SDK handy and if you are handy with it, it is very possible that you would be able to get a slice of that huge pie.

KPCB’s iFund™ is a $100M investment initiative that will fund market-changing ideas and products that extend the revolutionary new iPhone and iPod touch platform. The iFund™ is agnostic to size and stage of investment and will invest in companies building applications, services and components. Focus areas include location based services, social networking, mCommerce (including advertising and payments), communication, and entertainment. The iFund™ will back innovators pursuing transformative, high-impact ideas with an eye towards building independent durable companies atop the iPhone / iPod touch platform.

"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 at Kleiner Perkins Caufield & Byers. "We think several significant new companies will emerge as this new platform evolves, and the iFund™ will empower them to realize their full potential."

"Developers are already bursting with ideas for the iPhone and iPod touch, and now they have the chance to turn those ideas into great companies with the help of world-class venture capitalists," said Steve Jobs, Apple's CEO. "We can't wait to start working with Kleiner Perkins and the companies they fund through this new initiative."

The 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. Apple will provide KPCB with market insight and support.

For more information or questions, please read the iFund™ FAQs or email iFund@kpcb.com

tag: iPhone sdk, iFund, KPCB, iPhone, iPod Touch, Chi-Hua Chien, John Doerr, Bill Joy, Randy Komisar, Ellen Pao, Ted Schlein.Apple