Kleiner Perkins Unveils sFund

In a press conference at Facebook headquarters in Palo Alto, CA, yesterday, leading Silicon Valley venture firm Kleiner Perkins Caufield & Byers announced the formation of the sFund, a $250 million investing fund that will be reserved for startups building social Web applications and services. The fund will consist mainly of contributions from KPCB’s limited partners, but will also include about $50 million (according to a report from Fortune’s Dan Primack) from strategic partners such as Allen & Co., Amazon, Comcast, Liberty Media, Facebook, and Zynga. “Social is just getting started and the opportunities are vast,” said KPCB partner Gordon Bing, who will lead the fund. “As in the early days of the Internet, the race is on.”

Wade Roush is a freelance science and technology journalist and the producer and host of the podcast Soonish. Follow @soonishpodcast

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