Thursday, 22 May 2008

New BlackBerry Partners Fund Invests in Mobile Apps & Services

Research In Motion (RIM), RBC and Thomson Reuters have announced plans to launch the BlackBerry Partners Fund, a USD 150 million venture capital fund, that’s seeks to invest in mobile applications and services for all mobile platforms including the BlackBerry.

Research In Motion (RIM), RBC and Thomson Reuters have announced plans to launch the BlackBerry Partners Fund, a USD 150 million venture capital fund that’s seeks to invest in mobile applications and services for all mobile platforms including the BlackBerry.

The Fund will be designed to advance the industry by fostering development and driving the entrepreneurial spirit to create the most innovative mobile offerings for customers.

“The mobile world has evolved well beyond phone calls and simple messaging to require more empowering and liberating solutions that connect people to everything that matters most to them, wherever and whenever they want,” said Jim Balsillie, Co-CEO, RIM.

Agnostic to both stage and balance sheet, the BlackBerry Partners Fund will not restrict the development of mobile applications and services to any single mobile platform or any specific industry segment. Instead, it aims to act as a catalyst to fuel innovation and activity in the mobile ecosystem.

“The BlackBerry Partners Fund will focus on evaluating companies in all regions of the world and investing in the long term success of those that demonstrate market leadership and unique differentiation,” said John Albright, Managing Partner of JLA Ventures, who will also assume the role of Co-Managing Partner of the BlackBerry Partners Fund.

“Whether it's access to corporate data or the latest craze in mobile entertainment, we want to fund companies that are forerunners in driving adoption and further enriching the mobile experience.”

The Fund is to be co-managed by JLA Ventures and RBC Venture Partners.