Mobile App Startup Fund expands to New Platforms

For developers looking to break into the market for sports apps, or any other type of app, and that are looking for funding there is a new financial resource available as ATP Capital has expanded into new markets with its latest effort.

Some might remember ATP as the company that manages a fund that is seeking to help cultivate an ecosystem of developers on behalf of Research in Motion BlackBerry via its Blackberry Partners Fund program. While RIM goes through some painful issues right now both internally and externally Capital is looking to expand its reach in the app space.

With that in mind it has refocused its efforts on a new fund that will be platform agnostic and look to invest in startups in not only the BlackBerry space but also look for new companies that have Android, Apple iOS and Windows 8 developments underway.

As a first step the company, which aside from the BlackBerry fund also manages Clairmont Capitol and JLA Ventures, has rebranded itself and will now be called Relay Ventures and along with the new name is a new $150 million fund, which will go by the name of the BlackBerry Partners Fund II. The new fund will continue to be an independently managed, platform agnostic, early stage venture fund with a singular focus on mobile computing.

The funds lead investor is Northleaf Capital Partners and includes partners Corus Entertainment, Thomas Rueters and of course Research in Motion. ATP has had success with its efforts in funding mobile app startups, with 32 having received some level of funding and six have already been acquired.

Relay Ventures is also uprooting itself from Toronto and is moving to new offices in Menlo Park, Calif. This reflects on the fact that the company has made almost half of its investments in startups from that area.


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