JetBlue Airways' new venture capital fund has made its first investment, backing 16-employee Flyr, a San Francisco startup whose technology helps airline customers decide whether to buy tickets at current prices--or wait for fares to go down.

"In just a few short weeks, we have heard from hundreds of startups with incredible ideas about the future of travel," said Bonny Simi, president of JetBlue Technology Ventures, in a statement. T