Kleiner Perkins and Partners Create $250 Million ‘Social’ Fund

©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.

NY Times, 10/21/10

Hoping to capitalize on the popularity of social networking, the well-known venture capital firm Kleiner Perkins Caufield & Byers is teaming up with heavyweights of the social Web to create a $250 million fund to invest in social start-ups.

The “sFund” was announced by John Doerr, a Kleiner veteran, on Thursday at a star-studded press conference at Facebook headquarters in Palo Alto, Calif. The fund includes investments from Amazon, Facebook, the Zynga Gaming Network, Comcast, Liberty Media and Allen & Company, as well as Kleiner and some unnamed individuals. The chief executives of Amazon, Facebook and Zynga — Jeff Bezos, Mark Zuckerberg and Mark Pincus — all spoke at the event. They declined to say how much each party put into the fund.

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