Are you currently working on an idea centered around location based services, social networking, mCommerce (including advertising and payments), communication, or entertainment?  Have you ever thought of porting your idea / application to the iPod or iTouch?  A new investment fund has been formed that might be right up your alley.

Straight from the website:

“KPCB’s iFund™ is a $100M investment initiative that will fund market-changing ideas and products that extend the revolutionary new iPhone and iPod touch platform. The iFund™ is agnostic to size and stage of investment and will invest in companies building applications, services and components.”

More details can be found on the website, and you can visit the iFund FAQ here.