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Kleiner Perkins Bets The iPad Is ‘Magic’; Doubles iFund To $200 Million

Kleiner Perkins Caufield & Byers, one of the iPhone’s biggest and earliest supporters, is doubling the size of its iFund to $200 million. The specialized venture capital fund, which was founded two years ago with the launch of the original iPhone, will now make investments in start-ups based on Apple’s family of products including the iPhone, iPod Touch and the iPad.

The announcement was made today in the venture firm’s Sand Hill Road offices and was broadcast over a fuzzy telephone line. But Kleiner’s John Doerr’s praise of Apple’s Steve Jobs came through resoundingly clear. He believes the launch of the iPad on Saturday marks the start of a new revolution in PCs: it sheds the tired user interface and replaces it with touch, and retires the click with a “swoosh,” he said. “It