Betting on programs for the iPhone & iPad

"Investing in an application with a shelf life of 90 to 120 days is very difficult," says Daniel Klaus, co-founder of AppFund Inc., a recently launched New York investment firm that is making seed investments in programs that take advantage of Apple's iPhone and iPad devices. "That's why we're looking to develop platforms," says Klaus in a video interview with The Deal. The much-anticipated iPad goes on sale on April 3rd in the U.S., but Klaus, who previously co-founded Music Nation and Original Signal Recordings, and AppFund co-founder Kevin Wendle, who previously co-founded Cnet and E! Online, have already funded four (unannounced) companies. Watch the video below or download it on iTunes. -- Mary Kathleen Flynn