Thursday, July 31, 2008

Nokia Growth Partners Gets $150M More

Menlo Park-based private equity and venture capital firm Nokia Growth Partners, the venture capital arm of wireless firm Nokia, said today that the fund has landed additional commitments worth $150M from Nokia. The new capital will increase the venture firm's total dollars under management to $250M. According to the firm, the additional funding will allow it to establish direct operations in India and China, and augment its activity in the U.S. and Europe. Nokia said the move brings it total invested to date in venture funding activities to more than $900M. Nokia said it has also been a limited partner in BlueRun Ventures, Founders Fund, Gobi Partners, Magma Venture Partners, Oak Hill Capital Partner, and Technology Crossover Ventures.