Nokia Launches $500M Fund for Mobile Start-Ups

Share this article:
Nokia, the worldwide supplier of mobile phones, announced a new $500 million fund yesterday to invest in start-up Internet mobile companies.


Nokia said that unlike its first fund started two years ago, it has invested in the fund along with Goldman Sachs, BMC Software, CDBWebtech and others.


The Finnish-based company "is very committed to expanding our venture capital activities, given the excellent return on investment so far and the exposure we have had to new, innovative technologies and developments in the Internet economy,'' said Pekka Ala-Pietila, president of Nokia.


The new and old funds together have backed more than 25 companies from the United States, United Kingdom, Germany and Finland. The fund will have an increased focus on Israel and the Asia Pacific region, according to the company.


Nokia Venture Partners is based in Menlo Park, CA.
Share this article:
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

News Byte: AOL Mobile Advertising Goes Native

News Byte: AOL Mobile Advertising Goes Native

The company expands roll out of a native ad unit that will extend to its premium sites and those of up to 20,000 other publishers.

Delivering a Digital Experience That Counts

Delivering a Digital Experience That Counts

Three areas to master to deliver a digital experience that will gain greater customer engagement.

News Byte: Google Adds Upgrades to AdWords

News Byte: Google Adds Upgrades to AdWords

Rolling out over the next few months will be tools for mobile app engagement, automated bidding, and A/B testing.