Nokia has $250 million to spend on Mobile Ecosystem Ventures, adds focus to China

Nokia Espoo

Nokia EspooNokia has been investing in startups and existing companies that may be beneficial in their growth strategy and making them the all-round mobile company they are. Some companies like Swype and the likes of Navteq were meant to make Nokia provide necessary experience boosting functionality without Nokia necessarily either competing with the small companies or going back to scratch to get unique solutions to solve problema already solved. Saves time even.

Now Nokia has since set some $250 million under the global venture firm Nokia Growth Partners, a third in history since year 2005 to further this agenda. Focus of this investment will go to U.S, Europe  and Asia. China will also see this money and Nokia Growth Partners (NGP) has since appointed Chinese David Tang as managing Director NGP in China and Lu Guo as principal to be based in Beijing. NGP has overseen several successful exits,  including the IPOs of Morpho and Inside Secure and sales of Swype, Summit Microelectronics and Netmagic.