Ina Fried

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ATP Capital Launching New $150 Million Mobile Fund, Changing Name

The company behind the BlackBerry Partners Fund is rebranding itself, launching a new fund and expanding its presence in Silicon Valley.

ATP Capital is announcing on Wednesday that it will henceforth be known as Relay Ventures. The firm is also detailing a new $150 million mobile fund, a successor to its BlackBerry Partners Fund, which is now fully invested, having backed 25 companies, four of which have been acquired. The new fund, Relay stressed, will remain platform agnostic as was the prior one, despite its name. Relay has already made three investments as part of the new fund.

“We are one of the most active investors in mobile computing,” Relay co-managing partner John Albright said in a statement. “Our continued specialization and focus on the rapidly growing and advancing mobile industry has been well received by our (limited partners), almost all of which returned for this new fund.”

The new fund’s lead investor is Northleaf Capital Partners; corporate investors include Corus Entertainment, Thomson Reuters and Research In Motion.

Finally, Relay said it is opening a Silicon Valley office that will include Kevin Talbot, who has relocated to the Bay Area from Toronto, and venture capitalist John Occhipinti, who is joining the firm.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work