Nokia Growth Partners gets $150 investment from Nokia

Nokia Growth Partners, a global private equity and venture capital management firm, today announced an additional commitment of USD 150 million from Nokia, increasing funds under management for direct investments to USD 250 million. Nokia began sponsoring funds and promoting venture investments in 1998 as a catalyst for innovation in the mobile industry. Nokia commitments to venture funding activities to date exceed USD 900 million.

Building on a track record of successful investments, Nokia Growth Partners, launched in 2004, will now establish direct operations in India and China and augment investment activity in the U.S. and Europe. With the additional investment announced today, Nokia Growth Partners will continue pursuing investments that are of strategic relevance to Nokia, and or complementary to their strategy.

In addition to its direct investment activities, Nokia Growth Partners will advise on Nokia’s other venture capital fund investments. Both of these activities focus on promising companies seeking change in the mobile landscape. Target investments include companies creating innovative mobile applications and services that encourage rapid adoption of mobile solutions, such as context and location based services, mobile payments, mobile advertising, music and entertainment and other mobile services and software. Read more