mission: to find the best startups in the social space out there and fund them. But Kleiner Perkins partner John Doerr has a better way of putting it: “I’m thinking of it like it’s a quarter-billion dollar party.”

Fair enough.

I sat down with Doerr after the announcement and subsequent press conference with partners Facebook, Zynga, and Amazon, to talk a bit about the new fund. Doerr noted that the fund itself bubbled up from an idea he put out there at our own TechCrunch Disrupt conference this past May: the “Third Wave“. That is, Doerr believes that the “First Wave” was in the early 1980s with the microchip and the PC. The “Second Wave” was in the mid-1990s when the web came along. Now it’s time for this Third Wave: social, mobile, the cloud, and commerce all coming together.

Prior to this sFund, Kleiner Perkins launched the iFund (and subsequently doubled-down on it), the mobile part of this equation. More specifically, that fund was aimed at the iPhone and later the iPad. But Doerr is quick to note that the intention is not to tell entrepreneurs what to do with these funds. That’s why this sFund is not called the “fFund” or the “fbFund” (obviously, for Facebook), he says.

I also asked about Android. Might we see an “aFund”? Again, Doerr sort of danced around this question by saying again that the goal is just to help entrepreneurs here, not to tell them what they should be working on. The implication there is that as long as the startup is focused on social, Kleiner Perkins doesn’t care which platform they’re working on.

At the same time, Doerr notes that the key to all of this is mobile. “The Internet is moving mobile. And that’s where all the action is,” he says as we discuss our shared love for the iPad.

Another thing he wants to make very clear: “We’re just getting started. This is the early innings, if you will, of social and I can’t wait to see how far it goes over the next decade.” Play ball.

Below, find the video of my talk with Doerr.

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Authors: MG Siegler

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