Corrected: Kleiner Perkins’ iFund: Leads $15.5 Million Round For Home Security Firm


Remember the iFund, the $100 million Kleiner Perkins vehicle for investing in iPhone-related start-ups? It’s the lead investor in the $15.5 million second round of iControl… a home security firm. Previous backers Intel (NSDQ: INTC) and Charles River Ventures also participated. The company offers a web-based platform for monitoring home security and it does offer mobile access too. But it looks like the iFund, which was announced last month at an Apple (NSDQ: AAPL) event, isn’t so iPhone-focused as it first looked. Perhaps unfair, but you might even say, it’s just another of a long line of brands to glom onto the lowercase i. Kleiner partner John Doerr admitted to the WSJ’s Biz Tech blog that the investment isn’t particularly related to the iPhone, other than that iControl will be launching an iPhone-optimized version. Release.

Pelago (Corrected): We previously reported, based on the above WSJ article, that the iFund had led a fresh $5.8 million round in social net Pelago. Rather, we’ve been told, Kleiner Perkins invested this much when it led a previous $7.4 million round in 2006. That stake is now being pulled from the iFund. So there is no fresh raise to report; rather an old investment is now under the iFund umbrella.

Comments are closed.