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BlackBerry Partners Fund to invest $150 mn in mobile applications companies
 
Indiantelevision.com Team

(13 May 2008 6:00 pm)

 

MUMBAI: Thomson Reuters, Research In Motion (Rim) and RBC have announced plans to launch the BlackBerry Partners Fund.

This will be a $150 million venture capital fund to invest in mobile applications and services for the BlackBerry 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. It will be designed to advance the industry by fostering development and driving the entrepreneurial spirit to create mobile offerings for customers.

Rim co-CEO Jim Balsillie says, "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. 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 CEO markets division Devin Wenig says, "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. The ability to make business critical decisions with intelligent information available on mobile devices will give our customers a clear competitive advantage."

 
JLA Ventures managing partner John Albright says, "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. 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."

RBC VP Kevin Talbot says, "The BlackBerry Partners Fund will be a catalyst for the development of next generation mobile applications and services. 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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