Nokia to pump $250m into mobile venture capital fund
As part of its strategy of investing in future mobile opportunities, Nokia said it will invest $250m into a third fund from its Nokia Growth Partners operation, which has a total of $600m under management. The fund will invest between $5m and $15m and will work “closely with other value added investors offering complementary skills and perspectives.”
“Over the past decade, Nokia has developed an innovative venturing strategy,” Nokia CFO Timo Ihamuotila said. “Our ongoing commitment to Nokia Growth Partners reinforces Nokia’s support for a vibrant mobile ecosystem and our determination to collaborate with industry innovators to build great mobile products.” Under CEO Stephen Elop, Nokia has made investing in future mobile “disruptions” one of the pillars of its business strategy.
FierceWireless: Nokia to pump $250M into mobile venture capital fund; TelecomTV content partner.