BlackBerry Co-Founders Launch New Fund: Report

Mike Lazaridis and Doug Fregin are funding commercial applications for advancements in quantum science.

The co-founders of BlackBerry are tackling a new project: Finding commercial applications for advancements in quantum science. In an interview with the Wall Street Journal, Mike Lazaridis said he had launched Quantum Valley Investments with fellow BlackBerry co-founder Doug Fregin.

The two are putting in $100 million to the fund and, Lazaridis told the newspaper, already has its first deal (though he would not provide specifics).

"We’ve had researchers coming up to us with some really ground-breaking discoveries, and we could see the potential of those things," Lazaridis told the Journal. "This isn’t like venture capital. This isn’t everybody in their garage or dorm room coming up with an idea and getting funded."

[Image: Flickr user BlackBerryImages]

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