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Nokia invests $250 million in venture funding

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General view of the Nokia flagship store in Helsinki July 18, 2011. REUTERS/Jussi Helttunen/Lehitikuva/Files

General view of the Nokia flagship store in Helsinki July 18, 2011.

Credit: Reuters/Jussi Helttunen/Lehitikuva/Files

HELSINKI | Tue Jan 29, 2013 2:29pm IST

HELSINKI (Reuters) - Finnish mobile phone maker Nokia (NOK1V.HE) said on Tuesday it would invest $250 million in a new venture fund for mobile technology startups.

It would be the third fund for Nokia Growth Partners, Nokia's global venture firm which invests in mobile hardware and component companies as well as digital advertising startups.

Nokia Growth Partners had $600 million under management, according to its website.

(Reporting by Ritsuko Ando; Editing by Mark Potter)
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