Earlier this year, Apple (NSDQ: AAPL) surprised us all when Kleiner Perkins Caulfield & Byers announced it would support the iPhone by creating a standalone $100 million iFund focused on making investments in companies building iPhone applications. Six months later, KPCB has written five checks, and the iPhone has turned out to be a dynamic marketplace with millions of applications being downloaded by tons of eager users. Today, I caught up with Matt Murphy, who is managing the iPhone-focused fund, to discuss everything from the potential opportunity that the iPhone represents to what’s next for mobile to *Google* Android and the recent announcement that Cyriac Roeding, the former EVP of mobile at *CBS*, will be joining KPCB as an entrepreneur-in-residence.
Here’s excerpts from the interview:
— Why did KPCB decide on creating a fund focused on one platform? Doesn’t that go against the grain of VC’s who like to diversify their risks? “The way we look at the iPhone is that it is the leading platform, and by far has the most advanced data applications. Over time, most companies [in the fund] will eventually diversify to other platforms, so it