You may or may not be familiar with the BlackBerry Partners Fund. In short, it’s a $150Million “independent venture capital firm focused exclusively on mobile computing”. They’re behind buzzd, xobni, and a handful of other apps you may or may not be aware of. Today, the BlackBerry Partners Fund announced they’re expanding outside their headquarters in Canada. They’re going to open an office in Silicon Valley, and widening their reach around the globe. Goals include international expansion, more funding, and it all starts with a merger. The Fund was previously co-managed by JLA Ventures and RBC Venture Partners, but will now be entirely under one team (whereas before there were two). This will allow them to better structure the funding and organize the projects. Their goal is not just the smartphone, but to also include tablets and other Internet connected devices.
The full press release can be found after the jump.
TORONTO-October 28, 2010-BlackBerry Partners Fund today announced that its co-managers have merged their investment teams to focus exclusively on mobile venture capital investment opportunities under the BlackBerry Partners Fund brand around the world.
The $150-million BlackBerry Partners Fund was founded in 2008 with capital commitments from limited partners, including Research In Motion, Thomson Reuters and RBC. The Fund was previously co-managed by JLA Ventures and RBC Venture Partners. The Fund has made 12 investments since October 2008. RBC remains a limited partner in the Fund.
“While it is business as usual for all of our existing portfolio companies, the reorganization of the BlackBerry Partners Fund manager increases efficiency and reduces duplication to better enable our continued operations and future expansion,” said BlackBerry Partners Fund co-managing partner, Kevin Talbot. “By unifying the investment team, we are creating an even stronger, Canadian-based, globally competitive investment manager.”
“The future of computing is mobile,” said John Albright, co-managing Partner, BlackBerry Partners Fund. “Going forward we intend to build on our strengths and differentiated positioning as the leading independent venture fund focused exclusively on mobile computing.”
Separately, Clairmont Capital, an independent firm newly created by Talbot and the former investment team of RBC Venture Partners, will manage the RBC Venture Partners portfolio on behalf of RBC. The assets being managed are from RBC’s two early stage venture capital funds totaling approximately $250 million invested in early stage companies focused on financial services technology.
About BlackBerry Partners Fund
BlackBerry Partners Fund is the leading independent venture capital firm focused exclusively on mobile computing. In collaboration with Research In Motion, along with Thomson Reuters and RBC, the global fund brings capital, resources and unparalleled domain expertise to the partnerships it forms with exceptional entrepreneurs around the world who are shaping the future of the mobile eco-system. The Fund has an investment footprint throughout North America, the United Kingdom and Israel. For more information visit: www.blackberrypartnersfund.com.