I don't quite understand what the iFund is. What is it? A fund to provide independent developers with some type of compensation for for their apps, if chosen?
iFund is fishing for the next "Google, Yahoo or Apple"
It's just a bunch of rich guys trying to find the next great thing and own a piece of it.
Imagine if your came up with something that was bigger than FaceBook or Google, you're an instant Bazillionaire. These guys want to be a partner, so you will be the millionaire and they'll be the Bazillionaires.