Kleiner Perkins Caufield & Byers Doubles Size Of Apple (AAPL) Applications Fund

Venture capital firm Kleiner Perkins Caufield & Byers announced that it was expanding its "iFund", which supports companies that create programs for the Apple Inc. (Nasdaq: AAPL) iPhone OS, to fund developers of programs for the iPad as well.

Besides expanding the type of companies that the fund invests in, Kleiner Perkins Caufield & Byers will also double its size from $100 million to $200 million.

Since Kleiner Perkins Caufield & Byers began investing $100 million in the original 14 companies in March of 2008, they have received an additional $330 million in outside funding.

According to the venture capital firm's announcement, the program has been a great success, with the original investment recipients already generating more than 100 million downloads for the Apple Inc. iPhone OS, with $100 million in revenue so far in 2010 alone.