Business Services Industry
Nokia forms a new venture capital fund
Nordic Business Report, Dec 7, 2004
NORDIC BUSINESS REPORT-7 December 2004-Nokia forms a new venture capital fund(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish telecomms solutions provider Nokia announced on Tuesday (7 December) that its subsidiary Nokia Venture Partners had formed a new mid- to late-stage USD100m venture capital fund, Nokia Growth Partners.
The new fund would complement the continuing early-stage investing activities of Nokia Venture Partners, and would invest in innovative mobile technology companies that have a commercially available product, are experiencing significant revenue growth, and are beginning to experience adoption by large companies such as Nokia.
Nokia Growth Partners would reportedly have a global footprint and focus on ROI (return on investment), and would have Nokia as its sole Limited Partner.
Nokia Venture Partners would be raising a third early stage fund in 2005.
One US dollar (USD) is worth approximately 0.55 British pounds (GBP).
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