RIM announces $150 Million BlackBerry Partners Fund

May 12, 2008 | By | 6 Comments
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RIM has teamed up with RBC and Thomson Reuters to start a $150 Million fund called "BlackBerry Partners Fund". This fund will be focusing on investing into new mobile applications and services. 

“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.”

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, ON- Research In Motion (RIM) (TSX: RIM; NASDAQ: RIMM), RBC (RY: TSX; RY: NYSE) and Thomson Reuters (NYSE: TRI; TSX: TRI; LSE: TRIL; NASDAQ: TRIN), today announced plans to launch the BlackBerry® Partners Fund, a US$150 million venture capital fund, to invest in mobile applications and services for the BlackBerry® 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."

About BlackBerry Partners Fund
The BlackBerry Partners Fund is a $150 million venture capital fund being formed to focus on applications and services for the BlackBerry platform and other mobile platforms including mobile commerce (payments, advertising, retailing and banking), vertical and horizontal enterprise applications, communications, social networking, location-based applications and services (navigation and mapping), media and entertainment, and lifestyle and personal productivity applications. The Fund will consider all stages of development and is to be co-managed by JLA Ventures and RBC Venture Partners. To sign up to receive further information visit:  www.blackberrypartnersfund.com.
 
About Research In Motion
Research In Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information including email, phone, SMS messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity to data. RIM’s portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry® wireless platform, the RIM Wireless Handheld™ product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq Stock Market (NASDAQ: RIMM) and the Toronto Stock Exchange (TSX: RIM). For more information, visitwww.rim.com or www.blackberry.com.
 
About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals.  We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries.  Thomson Reuters shares are listed on the New York Stock Exchange (NYSE: TRI); Toronto Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and Nasdaq (NASDAQ: TRIN). For more information, go to www.thomsonreuters.com.
 
About RBC
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name of RBC. We are Canada’s largest bank as measured by assets and market capitalization and one of North America’s leading diversified financial services companies. We provide personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. We employ approximately 70,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. For more information, please visit rbc.com. 

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