Business, Economics, Education, Entrepreneurs,
Environment, Science and Technology
|
|
|
|
____________________
Venture Capital
RIM, RBC and Thomson Reuters Joining Forces to Create a Leading Fund for Investment in Mobile Applications and Services
Canadian Organizations to Unite through the BlackBerry Partners Fund to
Advance the International Mobile Industry
TORONTO - BlackBerry(R) Partners Fund LP today announced that Research In Motion (RIM), RBC, and Thomson Reuters, along with several private Canadian investors, are joining together through the BlackBerry Partners Fund LP to form a $150 million venture capital fund that will invest in the best emerging mobile applications and services.
Canadian innovation has led to international success and acclaim for many
organizations and individuals. Through investments in the BlackBerry Partners
Fund, a fund co-managed by RBC Venture Partners and JLA Ventures, several of
these successful organizations and entrepreneurs are now planning to jointly
help develop world-class businesses within the international mobile industry.
"I want to congratulate the members of the BlackBerry Partners Fund LP
for coming together to support innovation in an industry that supports
thousands of jobs and helps so many people around the world connect to one
another and do business," said Premier Dalton McGuinty. "Here in Ontario we
believe that world-beating talent and technology and a firmly embedded culture
of innovation are a durable and sustainable route to prosperity."
"It is gratifying to see world class Canadian companies and investors
joining together to help fuel further innovation globally in the thriving
mobile ecosystem," said Jim Balsillie, Co-CEO, Research In Motion. "The
BlackBerry Partners Fund recognizes that mobile applications and services
represent some of the hottest opportunities in the technology sector today and
will seek to fund the best and brightest innovators from around the world."
"The Thomson Reuters investment in the BlackBerry Partners Fund
underscores our commitment to next generation mobile technologies that will
provide our customers with the ability to readily access intelligence
information and make business-critical decisions anywhere, anytime," said
Devin Wenig, Chief Executive Officer, Markets Division of Thomson Reuters. "As
a leading Canadian business, we are particularly pleased to join Research in
Motion and RBC as one of the founding partners in the fund."
"We are pleased to have the opportunity to bring together many of
Canada's foremost companies and people to create the preeminent mobile and
wireless venture fund in the world," said John Albright, Managing Partner of
JLA Ventures, who will also assume the role of Co-Managing Partner of the
BlackBerry Partners Fund. "The investments this fund will make both
domestically and internationally will further establish the illustrious
reputation for technology innovation Canada has earned."
"The BlackBerry Partners Fund will be a catalyst for the development of
next generation mobile applications and services," said Kevin Talbot, RBC Vice
President and Managing Director of RBC Venture Partners, who will also assume
the role of Co-Managing Partner of the BlackBerry Partners Fund. "The
BlackBerry Partners Fund will focus exclusively on mobile applications and
services and our close alliance with RIM will bring unparalleled access and
value to our portfolio companies."
|
|
|
| © Copyright 2008/Exchange Morning Post/Exchange Business Communications Inc. |
