Kleiner’s Bing Gordon to Lead $250M Fund Focused on the “Social Web”

Kleiner Perkins may not have many investments in social web companies to date, but that’s about to change because the esteemed venture firm is committing $250 million towards these startups, together with Facebook, Zynga, Amazon, Comcast, Liberty Media and Allen & Company. Kleiner partner and Amazon and Zynga board member Bing Gordon will lead the so-called “sFund.”

But what will the fund focus on, considering that the web itself is increasingly social?

Consumer-facing applications, as well as infrastructure to support them, according to Kleiner partner John Doerr and executives from the other companies. That seems quite broad, considering that any web site with the Like button could be considered social. We asked Gordon for more specifics, and he said that “an entrepreneur who walks in with social slapped on will have a shorter meeting than one who has built social in from the ground up.”

The fund will be making investments ranging in size from $100,000 all the way up to $100 million. More details in our live blog post.

Here are some more details about what each partner company will be doing, from the press release.

  • Amazon Web Services (AWS) will provide AWS Getting-Started Support for one year, priority access to worldwide Startup Events, and dedicated business and technical support.
  • Facebook will contribute access to its platform teams, beta APIs, and new programs, like Facebook Credits.
  • Zynga will host periodic sessions with sFund companies to focus on management and technical development, including open source collaboration.
  • Comcast Interactive Capital, Comcast’s venture fund, will provide access to Comcast’s resources, teams, and relationships.

Liberty Media isn’t mentioned in the release but Gordon calls it a great “traditional media” partner during the press event at Facebook headquarters today. Allen & Co also isn’t mentioned but it will be chiefly providing financial support, he says.

The press release also notes that Kleiner will be focusing ten of its partners, including some of the best-known ones, on the fund. They include: Chi-Hua Chien, John Doerr, Eric Feng, Bing Gordon, Lila Ibrahim, Randy Komisar, Aileen Lee, Matt Murphy, Ellen Pao, and Ted Schlein. The press release also says that four partners based in Shanghai will invest for the fund in China.

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