Waterloo, ON – Research In Motion (RIM) (NASDAQ: RIMM; TSX: RIM) and the BlackBerry® Partners Fund today announced that RIM is making a lead commitment to BlackBerry Partners Fund II, a new US$150 million independent venture capital fund focused exclusively on mobile computing. BlackBerry Partners Fund II is expected to launch in June 2011 and will have a broader international mandate than the first Fund.
“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,” said Jim Balsillie, Co-CEO at Research In Motion.
“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.
The first BlackBerry Partners Fund was established in 2008 in collaboration with Research In Motion, Thomson Reuters, Royal Bank of Canada and a roster of high profile investors. The Fund has made 13 investments to-date in mobile start-ups in Canada, the United States, Israel and Ireland. The Fund brings capital, resources and domain expertise to the partnerships it forms with exceptional entrepreneurs around the world who are shaping the future of the mobile eco-system.
About Research In Motion
Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. Today, BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe, Asia Pacific and Latin America. RIM is listed on the NASDAQ Stock Market (NASDAQ: RIMM) and the Toronto Stock Exchange (TSX: RIM). For more information visit www.rim.com or www.blackberry.com.
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.
Forward-looking statements in this news release are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used herein, words such as “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “intend,” “believe”, and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RIM believes are appropriate in the circumstances. Many factors could cause RIM’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including those described in the “Risk Factors” section of RIM’s Annual Information Form, which is included in its Annual Report on Form 40-F (copies of which filings may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on RIM’s forward-looking statements. RIM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. RIM, Research In Motion and BlackBerry are registered with the U.S. Patent and Trademark Office and may be pending or registered in other countries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. RIM assumes no obligations or liability and makes no representation, warranty, endorsement or guarantee in relation to any aspect of any third party products or services.