Nokia infuses Nokia Growth Partners with another $150m

Jul 31 2008, 1:51am CDT | by Luigi Lugmayr

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.

About Nokia Growth Partners
Nokia Growth Partners is a leading global growth stage venture firm focused on mobile technology, services and media. Nokia Growth Partners is funded by Nokia to provide superior returns and investments into companies, firms, and people that are changing the face of mobility, communications, and the internet. Nokia Growth Partners works closely with the promising companies adding value through deep domain expertise and network in the mobility market combined with many years of venture investment experience. Nokia Growth Partners offers companies in which it invests a global engagement model through its presence in the U.S., Europe and Asia. More details on the Nokia Growth Partners site.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.