Close to three months after announcing the BlackBerry Partners Fund [1], a $150 million venture capital initiative created to invest in mobile applications and services, device maker Research In Motion is poised to announce its first investments in three to four firms, fund co-manager and RBC Venture Partners vice president Kevin Talbot tells TheStreet.com. The BlackBerry Partners Fund will initially target investments in the $2 million to $5 million range, Talbot said, although early-stage opportunities could call for smaller sums.
The absence of activity around the fund has been the subject of criticism as rival mobile platforms have actively nurtured their own development communities: Since launching the iFund, a $100 million iPhone effort managed by venture capital firm Kleiner Perkins Caufield & Byers, Apple has announced at least two investments, including mobile social networking firm Pelago and mobile gaming firm ngmoco. But Talbot chalks up the delays to the sheer volume of investment opportunities BlackBerry Partners Fund has explored, noting the fund has reviewed more than 1,500 developers so far, with an emphasis on mobile commerce, enterprise applications, communications technologies, social networking, media and entertainment, and location-aware services.
For more on the BlackBerry Partners Fund:
- read this TheStreet.com article [2]
Links:
[1] http://www.fiercemobilecontent.com/story/rim-launches-mobile-apps-development-fund/2008-05-12?utm_medium=nl&utm_source=internal&cmp-id=EMC-NL-upda&dest=upda
[2] http://www.thestreet.com/print/story/10432668.html