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iFund Initiative

iFund™ FAQ

What is the iFund™?
Does the iFund™ focus on specific investment areas?
Why did KPCB establish the iFund™?
How much will the iFund™ invest in each startup company?
How many companies will the iFund™ invest in?
Who is managing the iFund™?
How do I submit a business plan for consideration by the iFund™?
Will the iFund invest outside the United States?
I’m an entrepreneur and I have more questions. Who can I follow up with?
I am a member of the press. Who should I contact for more information?


Q: What is the iFund™?
A: The iFund™ is a $100 million venture capital investment initiative that will fund innovators developing applications, services, and components for Apple’s iPhone and iPod touch platform. Kleiner Perkins Caufield & Byers (KPCB) has earmarked $100 million for this initiative and it will be managed by KPCB’s partners. Apple will provide KPCB with market insight and support.
Q: Does the iFund™ focus on specific investment areas?
A: The iFund™ is agnostic to stage and size of investment (from seed stage to established products with revenue), but targets companies with long-term standalone potential. Focus areas include location-based services, social networking, mCommerce (including advertising and payments), communication, and entertainment.
Q: Why did KPCB establish the iFund™?
A: KPCB believes that the iPhone and iPod touch are a fantastic platform for mobile applications and services, combining a world class development environment, great devices and UI, an advanced customer base, and strong global distribution. This confluence of factors will ignite a wave of mobile internet innovation, generating opportunities on par with or greater than the PC internet. We expect the most innovative mobile companies and entrepreneurs will choose to develop their apps for the iPhone and iPod touch platform.
Q: How much will the iFund™ invest in each startup company?
A: The iFund™ will invest anywhere from $100K of seed capital to $15M of expansion capital in mobile application and services companies.
Q: How many companies will the iFund™ invest in?
A: As many great ventures as we see. If we need more than $100 million, we’ll find more money.
Q: Who is managing the iFund™?
A: The iFund™ is 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 is providing KPCB with market insight and support.
Q: How do I submit a business plan for consideration by the iFund™?
A: Please submit your business plan here. We will respond to submissions within two weeks.
Q: Will the iFund invest outside the United States?
A: Yes. We believe innovation in this market will occur globally and will evaluate business plans from around the world.
Q: I’m an entrepreneur and I have more questions. Who can I follow up with?
A: Please email ifund@kpcb.com. One of our team members will respond to you as soon as possible.
Q: I am a member of the press. Who should I contact for more information?
A: Please contact Tia Smith at tsmith@kpcb.com.

 

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