May 27 - 10:20am EDT   The iFund -- a $100 million resource set up by venture capital firm Kleiner Perkins Caufield & Byers -- is currently only paying to support two different iPhone development projects, writes BusinessWeek. The first of these is a port of an application by Pelago called Whrrl, which lets users scan for nearby attractions visited by them or their friends, as well as hit a button and receive a rundown of ongoing events. Controversially, revenue is expected to be earned by letting advertisers target the movements of individual customers, raising privacy issues. [full story]

May 12 - 12:40am EDT   Research in Motion early Monday confirmed rumors with the launch of the BlackBerry Partners Fund, a venture capital pool meant to rival the iFund for the iPhone. The $150 million pool eclipses the $100 million for the Apple device but shares the same goal of spurring growth in app development: promising young companies at any stage of development for their BlackBerry software can apply for capital to help their apps reach completion. [full story]