About the iFund
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.
More info on their site.