Research In Motion Makes Lead Commitment to Second BlackBerry Partners Fund
Written by 360Admin // February 24, 2011 // Tech, Gadgets & Toys // 1 Comment
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Waterloo, ON – Research In Motion (RIM) (NASDAQ: RIMM; TSX: RIM) and the BlackBerry® Partners Fund today announced that RIM is making a lead commitment to BlackBerry Partners Fund II, a new US$150 million independent venture capital fund focused exclusively on mobile computing. BlackBerry Partners Fund II is expected to launch in June 2011 and will have a broader international mandate than the first Fund.
“We are very pleased with the positive impact of the first Fund on our mobile ecosystem and we look forward to BlackBerry Partners Fund II bringing additional resources and support to mobile innovators in a broader range of international markets,” said Jim Balsillie, Co-CEO at Research In Motion.
“We are very fortunate to have RIM as an anchor investor and partner in our Fund and greatly anticipate expanding our reach and the geographical scope of Fund II,” said John Albright, Co-Managing Partner of BlackBerry Partners Fund.
The first BlackBerry Partners Fund was established in 2008 in collaboration with Research In Motion, Thomson Reuters, Royal Bank of Canada and a roster of high profile investors. The Fund has made 13 investments to-date in mobile start-ups in Canada, the United States, Israel and Ireland. The Fund brings capital, resources and domain expertise to the partnerships it forms with exceptional entrepreneurs around the world who are shaping the future of the mobile eco-system.
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I get that many Nigerians use Blackberrys, but unless this money is aimed at the Nigerian market or some job-creation economic or philanthropic opportunities at home, why is this specific one important? Might as well start giving updates on Apple and Sony Ericsson too.