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Mobile Venture Fund
RIM, RBC and Thomson Reuters to Anchor a $150 Million BlackBerry Partners Fund Focused on Investing in Mobile Applications and Services
New fund to mark "mobile" as the new frontier
TORONTO - Research In Motion (RIM), RBC and Thomson Reuters, today announced plans to launch the BlackBerry(R) Partners Fund, a US$150 million venture capital fund, to invest in mobile applications and services for the BlackBerry(R) platform and other mobile platforms. The Fund is to be co-managed by JLA Ventures and RBC Venture Partners.
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. 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, Research In Motion. "RIM, RBC and Thomson
Reuters share the common belief that mobile applications and services will
propel the industry forward and the BlackBerry Partners Fund is being formed
to help fuel innovation and activity in the mobile ecosystem."
"Thomson Reuters is committed to supporting the development of next
generation mobile applications that will provide our professional and business
customers with anywhere, anytime capabilities," said Devin Wenig, Chief
Executive Officer, Markets Division of Thomson Reuters. "The ability to make
business critical decisions with intelligent information available on mobile
devices will give our customers a clear competitive advantage."
"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 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."
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