Following the success of its $200 million iFund targeted specifically at mobile apps on Apple Inc.’s (AAPL) iOS platform, Kleiner Perkins Caufield & Byers (KPCB) has scratched $250 million together for an sFund to invest in all things social.
The venture capital fund is also being backed by Amazon.com (AMZN), Facebook Inc., Zynga Game Network Inc., Comcast Corp. (CMCSA), Liberty Media Corp. and Allen & Co.
“We’re at the beginning of a new era for social Internet innovators who are re-imagining and re-inventing a Web of people and places, looking beyond documents and websites,” said KPCB partner John Doerr. “There’s never been a better time than now to start a new social venture.”
While KPCB was early to the mobile app game, this latest push does come later to the social space. Nonetheless it must be emboldened by the recent Ngmoco acquisition — it’s been reported that KPCB’s return on that investment was so large that it effectively paid for the entire iFund.
“The Web is being rebuilt around people, and we’re at a point where any app, website, or device can be designed to be social from the ground up. We’re focused on enabling entrepreneurs to build companies that can disrupt their industries,” Facebook CEO Mark Zuckerberg said.
KPCB said it will have 10 partners working on the sFund in the United States and another four in Shanghai where it plans to expand its reach in China.
KPCB announces $250M sFund for social startups
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