iFund is an investment fund created by KPCB (Kleiner Perkins Caufield & Byers) to invest in iPhone oriented start-ups. It has a US$100 Million pool and has already invested in 5 companies: Whrrl (whose parent company is Pelago), iControl, Gogii, Ngmoco and another unnamed (yet) company.

While Whrrl is a location-based service and iControl is a remote-monitoring one, Gogii and Ngmoco are gaming companies about to launch this fall.

Gogii Games was started by George Donovan, after selling his previous company  Infiknowledge Inc. to Traffix Inc. Gogii received $5 Million from KPCB and is concentrating on casual games that will be both online and based on social networks, targeting the iPhone primarily.

Ngmoco is a company created by KPCB by bringing a few former EA seniors together. Bing Gordon, formerly chief creative officer of EA, is on the board and Neil Young (no, not THAT one…) is the CEO. Neil was on the team of games such as Sims 2 and the up-coming Spore. Also, Bing Gordon is on the board of Zynga as well, a company KPCB also invested in and which concentrated on making a games network which is cross-social-networks. Thus, it is likely the new compnay is going to play a role in facebook/myspace/etc, as well as on the iPhone.

According to the NYT, iFund investments range from $100K to $15 million, and KPCB already invested between $5M to $8M in these companies.

It would be interesting to see how things will go for these companies and how different will they be.