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Monday, May 12, 2008

RIM, RBC and Thomson Reuters Create $150 Million BlackBerry Partners Fund

Research in Motion (RIM), Royal Bank of Canada (RBC), and Thomson Reuters have announced the creation of a $150 Million venture capital fund, to invest in mobile applications and services for the BlackBerry and other mobile platforms. "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." John Albright, Managing Partner of JLA Ventures who will co-manage the fund says "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."