The Street backs social startups in $250M fund

Venture capital firm Kleiner Perkins Caufield & Byers revealed its new $250 million fund devised to invest in social applications and companies in the appropriate setting of Facebook's Palo Alto, CA, offices. KPCB already invests in a number of socially-minded startups, including the popular Flipboard iPad app.

"The sFund will provide financing, counsel, and relationship capital for a new generation of entrepreneurs to deliver on the promise of the social web," the firm said.

Interestingly, other companies that have found their success online and through the social Web, including Facebook, and Zynga Gaming Network, have partnered with KPCB to offer support to entities selected to receive funding from the new sFund.

VentureWire, a Dow Jones enterprise, reports

After seeing rapid returns from its fund devoted to iPhone applications, Kleiner Perkins Caufield & Byers is spreading its reach even more and taking on the entire social web with another targeted tech fund.

Interestingly, Kleiner is putting on a big social-media push despite - or maybe because of - having missed out on the two biggest social-media phenomena of this era, Facebook and Twitter Inc. Kleiner is an investor in Zynga, a social-gaming maker, having invested in a $29 million round in July 2008.

You must be a registered member of Direct Marketing News to post a comment.

Next Article in Direct Line Blog

Sign up to our newsletters

Company of the Week

SK&A is a leading provider of U.S. healthcare information solutions and databases. As part of IMS Health, SK&A researches and maintains contact and profiling data for over 2 million healthcare providers, including 800,000+ prescribers. SK&A's data supports research and marketing initiatives for life sciences, medical device, managed healthcare, direct marketing, publishing, education and more. SK&A's proprietary databases are telephone-verified twice per year from its world class Research Centers. SK&A enables multi-channel marketing and sets the standard for data quality and reliability. SK&A's customers include many of America's most recognized healthcare, publishing and pharmaceutical institutions.

Featured Listings



SK&A is a leading provider of U.S. healthcare information solutions and databases. As ...