Microsoft is readying a Bing Fund investment program for launch later this month. Headed by VoodooPC founder Rahul Sood, the fund is designed for entrepreneurs and startups. One particular description, from a recent job posting, reveals that Bing's Fund portfolio includes "startups working on the web, desktop, mobile and console."

Sood, who was previously involved in Microsoft's Xbox business, has been working on the Bing Fund since January and revealed in a tweet that the project will be unveiled in mid-July. His direct involvement in an investment program is contrary to his past experience as founder of the Voodoo PC brand which was eventually acquired by HP in 2006. Sood joined Microsoft in late 2010 and focused on the system experience in the company's Interactive Entertainment Group.

Microsoft isn't detailing exactly how its investment fund will work, but the use of the Bing brand is an odd one given its association with company's search engine. Microsoft has launched a Bing Fund site and Twitter account, with a hint that it "will have more to share soon."