TORONTO, Jan. 13 /CNW/ - The Ontario Venture Capital Fund (OVCF) today announced that it has made a commitment to Blackberry Partners Fund II, a leading independent venture capital firm focused exclusively on mobile internet investing. The Blackberry Partners Fund (Blackberry Partners), a Toronto-based firm, ranks among Canada's most active technology investors.
"We are pleased to have made a lead commitment to one of Canada and Ontario's most promising venture capital funds," said Melissa McJannet, Managing Director of Northleaf Capital Partners, the manager of OVCF. "The investment in Blackberry Partners is reflective of OVCF's strategy to invest in best-in-class Ontario-based and Ontario-focused venture capital and growth equity funds. Blackberry Partners has served as a local champion in the Ontario market and we believe its differentiated investment strategy positions the manager to succeed not only in the Canadian market, but on a global basis."
"We are thrilled to add OVCF as a lead investor in our next fund and look forward to a long and successful partnership," said John Albright, Co-Managing Partner of the BlackBerry Partners Fund. "Their support, along with our other lead investors, Research In Motion and Thomson Reuters, will allow us to continue to invest in leading players in the mobile internet sector and deliver strong returns for our investors."
OVCF's commitment to Blackberry Partners is an extension of a partnership that began in 2008 through a direct co-investment made alongside JLA Ventures (the predecessor to Blackberry Partners Fund) in I Love Rewards, a high potential Ontario-based company. OVCF believes that investing in promising venture capital and growth equity funds and co-investing alongside them to support innovative, high growth companies is critical to the development of a long-term, world-class venture capital ecosystem in Ontario. OVCF's primary objective remains to generate attractive, long term returns for its investors and, by so doing, clearly demonstrate the significant opportunities available through investment in Ontario venture capital and growth equity funds and companies.
About the Ontario Venture Capital Fund
The $205 million Ontario Venture Capital Fund is a joint initiative between the Government of Ontario and leading institutional investors to invest primarily in Ontario-based and Ontario-focused venture capital and growth equity funds that support innovative, high growth companies. OVCF is structured as a fund of funds with the primary objective of generating attractive returns for its investors. The Fund is managed by Northleaf Capital Partners. For more information on OVCF, go to www.ovcf.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 2 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.
SOURCE Northleaf Capital Partners
For further information: Lorena Pacheco Scott, Northleaf Capital Partners, 416-477-6717, firstname.lastname@example.org