Kleiner Perkins making big bet on Apple's iPad

Mar 31, 2010
John Doerr, partner with the venture capital firm Kleiner, Perkins, Caufield and Byers, smiles during an announcement of the firm's plan to double its fund to $200 million for applications for Apple products in Palo Alto, Calif., Wednesday, March 31, 2010. The announcement comes within days of Apple's official launch of the iPad tablet. (AP Photo/Marcio Jose Sanchez)

(AP) -- One of Silicon Valley's top venture capital firms is doubling its bet on Apple's mobile gadgets in hopes of cashing in on the highly anticipated iPad.

Kleiner Perkins Caufield & Byers has added $100 million to an "iFund" that started with $100 million two years ago. That's when the firm began to invest in startups focused on building applications for Apple's iPhone and iPod Touch.

With that initial round of money now invested in 14 companies, Kleiner Perkins sees another golden opportunity in the . will start selling the computer tablet Saturday.

People pay attention to Kleiner Perkins' high-tech wagers because the firm has hit so many other jackpots. Its previous investments include Google, Netscape and Amazon.com.

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