Nokia Press Bulletin Board

Nokia Growth Partners, a global venture capital management fund, today announced the debut of its China operations. Nokia Growth Partners also announced an investment in Madhouse, a leading mobile advertisement network in China. 

“China is an incredible place to witness the ongoing convergence between mobility and the Internet. We see China rising to the forefront of innovation that is equally relevant both locally and globally”, said David Tang, Vice President, Sales, Nokia China. “The expansion of Nokia’s partner ecosystem in China is all about building momentum for innovation.”

“Nokia is committed to connecting people in new and better ways, as well as maintaining and extending its leadership in the mobile and Internet space.  China is an important part of our plans to create investment vehicles to support innovation around the world.  Developing a systematic and sustainable private equity and venture capital strategy provides Nokia with a holistic approach to access the innovation and partnering opportunities in China”, says Rick Simonson, Chief Financial Officer of Nokia.

Nokia Growth Partners was established in 2004 by Nokia as a growth stage venture firm focused on mobile technology, services and media.  Nokia Growth Partners has $250 million under management for direct investments. Nokia Growth Partners invests in companies, funds and people that are changing the face of mobility, communications and the internet.  Recent investments involve promising companies developing innovative mobile applications in context aware location services, mobile payments, mobile advertising and mobile entertainment etc.