nokia-growth-partners-opens-asia-offices

Nokia Growth Partners opens Asia offices

The venture capital arm of Nokia opens shop in India and China with an additional $150 million to invest in companies involved in mobile applications and services.
Venture capital firm Nokia Growth Partners NGP yesterday announced it has increased its assets under management to $250 million and is opening offices in China and India.

NGP has secured an additional commitment of $150 million from its parent, mobile phone supplier Nokia. This increases NGP's assets under management available for direct investments from $100 million currently. Nokia has been making VC investments since 1998 and to date has invested $900 million in venture funding. It established NGP in 2004 to make investments that are of strategic relevance to Nokia and complementary to its strategy.

NGP's new offices in India and China will supplement ongoing investment activity in the US and Europe. The...
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