Nokia Pumps $250 Million into Investment Fund
Published on: 29th Jan 2013
Note -- this news article is more than a year old.
Nokia Growth Partners (NGP), a global venture firm, today announced the launch of its third fund with a further USD250 million long term commitment from Nokia. NGP invests in mobile related businesses¬ in the USA, Europe and Asia.
NGP also announced its expanded presence in China with the appointments of David Tang as managing director and Lu Guo as principal.
"Nokia Growth Partners is delighted with Nokia's continuing commitment, which recognizes strong financial performance since our formation in 2005," said John Gardner, managing partner of Nokia Growth Partners. "What sets NGP apart from pure financial investors are the partnerships and insights our invested companies get from their close association with Nokia. In the past year, NGP has also realized several successful exits, including the IPOs of Morpho and Inside Secure and sales of Swype, Summit Microelectronics and Netmagic. We are excited about our existing strong portfolio of companies and their potential impact globally."
David Tang and Lu Guo together have over 35 years global technology and investment experience. David Tang joins Nokia Growth Partners from AMD where he was Corporate Senior Vice President and President of AMD China. Lu Guo joins from Keytone Ventures where he was Vice President responsible for mobile and Internet investments. They will be based in Beijing.