Feeds

Nokia chucks another $250m at its mobile VC biz

Maybe we can FUND a winner

3 Big data security analytics techniques

Nokia is setting up a third investment fund, putting $250m on the table for its VC business to invest in mobile-related ventures. It has also announced the appointment of a new MD and principal in its brand-new offices in China, where it is looking to expand operations.

Not that David Tang, the new Beijing-based managing director, will have trouble finding his way around, having spent a while as the vice president of Nokia China, but he's now working for Nokia Growth Partners, the investment arm. NGP already manages around $600m in funding and has had some decent successes.

NGP helped fund Inside Secure, which went public last year on the back of its NFC and secure processing platforms, and it also provided money to Swype and Netmagic, both of which made money for the fund when it sold out.

The new money isn't just for China, but the appointment of David Tang, who already advises various Chinese mobile businesses, is certainly a statement of intent.

Most of the large companies in mobile have investment arms, hoping their experience in mobile will help them spot the winners, and that taking advantage of industry connections will help those investments pay off. While these investments might help generate some sales or improve the brand, such funds are definitely intended to make a profit too.

Nokia's investments run from $5m to $15m or so, so they're more along the lines of growth capital rather than seed funding, which is good news as that's the money so many companies seem to be having trouble raising these days. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.