Gordon is a partner at Kleiner Perkins Caufield & Byers (KPCB), the venture capital firm that led ngmoco's Series A financing round.
In a statement, Young called the iPhone the "next great game platform."
The undisclosed amount of funds will be used to create, acquire and publish iPhone-specific titles.
Earlier this year, KPCB announced the $100 million iFund initiative, which funds projects on iPhone and iPod Touch platforms.
"Apple's iPhone has the potential to be one of the best portable gaming platforms ever created," added Gordon.