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RIM joint venture to invest $100M in China's mobile industry
- — 28 May, 2010 18:45
BlackBerry Partners Fund, which invests in applications for the BlackBerry and other mobile devices, has come together with China Broadband Capital Partners to set up a US$100 million fund, called BlackBerry Partners Fund China, that will invest in mobile Internet and mobile cloud technologies in China.
China Broadband Capital Partners, or CBC, is a China-based venture capital and private equity manager focused on telecommunications, the Internet and media investments. BlackBerry Partners Fund is the venture capital arm of Research In Motion, the company that sells the BlackBerry.
This is the right time to invest in mobile cloud and mobile Internet technology and the fund aims to tap into increasing network sophistication and 3G development in the world's most populous country, said Gregory Shea, corporate vice president and managing director of RIM China.
Shea said the new fund would facilitate the eventual Chinese launch of RIM's BlackBerry App World application store by supporting local developers.