Kleiner Perkins Caufield & Byers is launching a $250 million fund dedicated to investing in social-related startups. They will work with Amazon.com, Facebook, Zynga, Comcast, Liberty Media, and Allen & Co. as partners to help grow the space.
Bing Gordon, former Electronic Arts chief creative officer and Kleiner Perkins partner, says that this will be just the beginning of this new initiative, since he sees the growth of Facebook usage as ready to explode in the coming years. While the fund has already grown hugely in the past couple years, Kleiner Perkins partner John Doerr says “that this social gaming fund was only starting now because, with the arrival of Zynga, we discovered (that the social) application opportunity was going to be enormous.”
Source: PaidContent.org {link no longer active}
