Nokia to invest $150 million in its PE arm

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Nokia to invest $150 million in its PE arm

August 15, 2008

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Nokia has decided to invest an additional $150 million in the company's private equity (PE) and venture capital arm in order to focus on investment opportunities in the emerging markets of India and China. The mobile handset maker will invest the amount in Nokia Growth Partners. This will augment the funds available for direct investment under the company's management to $250 million. The additional investment is aimed at targeting innovators in software and services. In addition to direct investment activities, Nokia Growth Partners will advise on Nokia's other venture capital fund investments.