BlackBerry in new VC fund dedicated to mobile applications

Funding opportunity

The manufacturer of the BlackBerry wireless handheld, Research In Motion, is teaming up with the information services giant Thomson Reuters to launch the BlackBerry Partners Fund, a $150 million venture capital fund that will invest in mobile applications and services for the BlackBerry and other mobile platforms.

The fund, to be co-managed by JLA Ventures and RBC Venture Partners, says it will be “agnostic” to both stage and balance sheet. “BlackBerry Partners Fund will not restrict the development of mobile applications and services to any single mobile platform or any specific industry segment,” but instead, “Will be designed to advance the industry by fostering development and driving the entrepreneurial spirit to create the most innovative mobile offerings.”

Jim Balsillie, Co-CEO, Research In Motion said, “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,”

He added, “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.”

Devin Wenig, Chief Executive Officer, Markets Division of Thomson Reuters said, “The ability to make business critical decisions with intelligent information available on mobile devices will give our customers a clear competitive advantage.”

The fund will consider companies anywhere in the world, focussing on applications and services 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.