Nokia Focus Heavily On Strategic Investments; Increasing Fund Size To $100 Million

Nokia is stepping up a commitment to its venture-capital activities, as it expans into allied areas such as mobile music and video and location-based services, reports WSJ. It is increasing the amount of money in its Nokia Growth Partners investment arm and adding new management to oversee the fund. The $100 million fund, based in London and Menlo Park, CA., invests in companies that are in the mid- or late-stage of financing and have a commercial product used by industry players such as Nokia.
The company will be adding two members to management: John Gardner, who co-founded another of Nokia’s outreach units, BlueRun Ventures; and Markus Salolainen, who currently runs Nokia Growth Partners, will remain on the team.
Nokia Launches $350M Fund

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