RIM makes lead commitments of US$150 million in VC fund for Blackberry developers.
Feb 15, 2011 Blackberry Developer, News
Research In Motion (RIM) has announced that it will be making a lead commitment of to US$150 million in BlackBerry Partners Fund II, a new independent venture capital fund dedicated exclusively on mobile computing. The fund is expected to be launched in June, 2011 and will have a wider global mandate than the first Fund.
In a press release issued by the company, Jim Balsillie, Co-CEO at Research In Motion said”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”.
“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.
BlackBerry Partners Fund was first launched in 2008 with collaboration from Research In Motion, Thomson Reuters, Royal Bank of Canada and many other high profile investors. The Fund has since made 13 investments in mobile start-ups across the world. Companies working in the mobile ecosystem including Blackberry developers can benefit from this fund.
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