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Nokia injects $250 million into venture funding
Nokia has committed another $250 million to its venture funding arm, Nokia Growth Partners, the company announced today.With that sum, Nokia Growth Partners members will be able to invest in "high potential businesses within the mobile ecosystem." The venture capitalists will focus their efforts in the U.S., Europe, and Asia.Related storiesNokia to offer paid upgrade to Lumia-only music serviceNokia to launch flagship smartphone on Verizon this year -- reportSamsung, Apple dominate as 700M smartphones ship in 2012Nokia shows signs of life, but North America market still a blipNokia pulls off a profit, holds out hope for the futureChina could be an important opportunity for Nokia, so the archeage power leveling company has expanded its presence there by appointing former AMD China president David Tang as managing director. Lu Guo, former Keystone Ventures vice president, will act as principal in China.Nokia's latest fund is its third archeage gold since Growth Partners' founding in 2005. The fund has invested in a wide array of companies, including mobile user interface company Swype.Many major technology companies have venture-capital arms. Google has one of the most well-known funds, led by several prominent tech leaders, including Digg founder Kevin Rose.
Nokia injects $250 million into venture funding
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