Nokia Plans $250 Million in Venture Funding Amid Cash Focus
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Nokia Oyj, the struggling Finnish phonemaker, plans to invest $250 million in a fund that will provide venture funding for mobile communications companies worldwide, with an increased focus on China.
Nokia Growth Partners, the venture-capital arm of Nokia, will continue to invest in companies in the U.S., Europe and Asia, Espoo, Finland-based Nokia said today in a statement. This is the third fund for Nokia Growth Partners.