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Bono's VC Firm Elevation Doubles Down On Palm (PALM)

treo-pro.jpgPalm's (PALM) future will be written in the next few weeks, when the company debuts its make-or-break "Nova" smartphone platform on Jan. 8 at CES.

But here's one early endorsement of Palm's efforts to rejuvenate its product line: Investor Elevation Partners is dumping an additional $100 million in the company. The money will "put added momentum behind the new product introductions scheduled for 2009” says CEO Ed Colligan.

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Palm has been keeping "Nova" shrouded in Apple-like secrecy, but Colligan has early said he's aiming for a device at the "fat middle" between RIM's (RIMM) work-capable Blackberrys and Apple's fun-oriented (AAPL) iPhones.

Elevation, in case you've forgotten, is the VC firm run by, among others, two Valley rock stars: Roger McNamee and Bono.

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See Also:
Palm's New Smartphone Platform Coming Jan. 8
Palm: Fall Sales Horrible, Slashing Costs

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