Nokia commits another $150M to mobile investment

Nokia announced it will commit an additional $150 million to its equity and venture capital management arm Nokia Growth Partners, increasing total funds under management for direct investments to $250 million as the handset giant seeks to ignite the creation of new applications and services encouraging adoption of mobile solutions including context and location based services, mobile payments, mobile advertising, music and entertainment. Nokia Growth Partners will now launch direct operations in India and China and augment its existing investment activity in the U.S. and Europe--the unit will continue pursuing investments that complement and bolster existing Nokia strategies, and advise on its parent firm's other venture capital fund investments. Over the past year, Nokia Growth Partners has invested in early-stage ventures including BlueRun Ventures, Founders Fund, Gobi Partners and Magma Venture Partners.

For more on Nokia's investment outlook:
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