1. sonbuster's Avatar
    BlackBerry Co-Founders Bankroll $100 Million Quantum-Science Fund - Digits - WSJ

    The two men who started BlackBerry BB.T -0.19% maker Research In Motion Ltd. some 30 years ago are bankrolling a $100 million investment fund targeting commercial applications for advancements in quantum science.

    Mike Lazaridis, the former co-chief executive and co-chairman of RIM, said Tuesday that he and Doug Fregin are funding the Quantum Valley Investment Fund. In an interview, Mr. Lazaridis said the fund is aimed at spurring commercial developments from breakthroughs in quantum sciencethe effort to understand and harness energy at its most infinitesimal level.

    Quantum physics has long been a passion of Mr. Lazaridis, who has donated over $200 million to science institutes in and around Waterloo, Ontario, RIMs hometown. He has funded the Perimeter Institute of Theoretical Physics and the Institute for Quantum Computing at the University of Waterloo.

    Weve had researchers coming up to us with some really ground-breaking discoveries, and we could see the potential of those things, Mr. Lazaridis said in an interview here. This isnt like venture capital. This isnt everybody in their garage or dorm room coming up with an idea and getting funded.

    The new investment fund has inked its first deal, Mr. Lazaridis said, without providing details. Investments from the fund will initially center around Waterloo. But Mr. Lazaridis said he could see researchers from other parts of the world eventually approaching him for funding.

    Mr. Lazaridis served as co-CEO for 20 years with Jim Balsillie before they both stepped down early last year, as the BlackBerry BBRY +0.07% maker struggled with a plummeting share price and a fast-dwindling share of the global smartphone market.

    Mr.Lazaridis remains the companys non-executive vice chairman and one of its biggest, single shareholders. Mr. Balsillie has been pursuing his own philanthropic activitiesincluding overseeing an international governance think tank in Waterloo. Unlike Mr. Lazaridis, Mr. Balsillie stepped down from RIMs board last year. Earlier this year, he disclosed that he had sold out of all his RIM shares.

    Mr. Fregin is less well-known than Mssrs. Lazaridis and Balsillie, but he appeared briefly on Forbes billionaires list in 2008, when RIM shares were trading above $100 a share. RIM shares closed Tuesday in New York at just above $15.

    Messrs. Lazaridis and Fregin were boyhood friends. They started RIM in a strip mall in 1984 with a $15,000 loan from Mr. Lazaridis parents. Mr. Fregin served as RIMs vice president of operations until he retired in 2007.

    Mr. Lazaridis declined to answer questions about RIM, which rolls out its new BlackBerry Z10 phone in the U.S. on Friday and reports earnings next week.
    03-19-13 05:09 PM
  2. Shanerredflag's Avatar
    Good find...was wondering what was going on with that.
    sonbuster likes this.
    03-19-13 05:22 PM
  3. BBNation's Avatar
    may be he could have bought bb shares and that will trigger some short covering. Then he can invest 150 mil in this..
    sonbuster likes this.
    03-19-13 09:45 PM

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