Venture Capital Available
Published by Bob Foster
If you are a tech-based company and are looking for venture capital as seed money or expansion capital, it is now available…that is, if you are developing new applications or services for Apple’s iPhone, or iPod Touch.
The Venture Capital firm of Kleiner Perkins Caulfield and Byers (KPCB) is seeking companies with “market changing” ideas. KPCB’s current iFund focuses on location-based services, social networking, mobile commerce, communications, and entertainment. They will make investments ranging from $100,000 of seed capital, to $15 million of expansion capital.
If your business fits any of KPCB’s current focus areas, and you need capital to start up, or expand, this may be your opportunity. You may get more information from KPCB here.
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I’ve forwarded your post on to a group of iPhone app developers… many of whom have already approached them it seems. Apparently KPCB is good at gathering a lot of applications but not responding to people with even a “thanks, but no-thanks” these days.
Sounds like typical VCs in action… if you’re lucky enough to get one’s attention at all, then go out and buy a Lotto ticket! Your chances of actually getting your funding may be greater!
Jeff – As I’m sure you know, actually receiving funding from a Venture Capitalist is a daunting task. Every VC gets thousands of requests for money, and only a very few are ever funded. As I said in my post, and KPCB indicates on their iFund web site, they are looking for “market changing” ideas—no easy task. Good ideas and good applications by themselves just won’t cut it for VC money.
Incidentally, I read today where KPCB just opened up two old funds that had previously been closed. That means they are looking for “market changing” ideas in other areas as well. Take a look at their website for more information.
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Bob – Very good of you to post this. Thanks!
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[...] any of you developers need investment money to further your app development efforts, check out this post I made back in February. The venture capital firm, Kleiner, Perkins, Caulfield and Byers is looking [...]