The venture capital firm behind Google, Amazon and Intuit has earmarked $100 million in venture capital to invest in firms creating applications and services for Apple's iPhone and iPod touch.

Kleiner Perkins Caufield & Byers' iFund will focus on location-based services, social networking, mobile commerce, communication and entertainment. Stage and size of the investment don't matter.

"A revolutionary new platform is a rare and prized opportunity for entrepreneurs and that's exactly what Apple has created with iPhone and iPod touch," said John Doerr, partner at Kleiner Perkins, Menlo Park, CA, in a statement.

"We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential," he said.

The iFund has the full support of Apple Inc. CEO Steve Jobs.

"Developers are already bursting with ideas for the iPhone and iPod touch, and now they have the chance to turn those ideas into great companies with the help of world-class venture capitalists," Mr. Jobs was quoted as saying in the statement.

"We can't wait to start working with Kleiner Perkins and the companies they fund through this new initiative," he said.

Kleiner Perkins partner Matt Murphy will lead the iFund, helped by Mr. Doerr, Bill Joy, Randy Komisar, Ellen Pao, Chi-Hua Chien and Ted Schlein.

The iFund will help application developers turn their ideas into companies with standalone, IPO potential. Besides money, the fund will also offer expertise, business development relationships and access to its network of entrepreneurs.

Kleiner Perkins has invested in more than 500 companies since 1972. More than 150 of those companies have gone public. It has invested in more than 20 mobile firms.

Current Kleiner Perkins mobile investments include Pelago, Dash, GOGII and Pinger, all of whom will work closely with the iFund effort.