Nokia commits further $250 million in venture funding for mobile ecosystem

Nokia Growth PartnersNokia Growth Partners (NGP), the venture firm run by Finnish phone maker announced the launch of its third fund with a further $250 million long term commitment from Nokia.

The firm will continue to invest in high potential businesses within the mobile ecosystem in the U.S., Europe and Asia, the company said. It also announced expansion in China with the appointments of David Tang as managing director and Lu Guo as principal.

Nokia’s venture firm first started concentrating in India in 2008. It has invested in companies such as the digital marketing solutions provider Vizury, deal site DealsAndYou, hosting provider NetMagic and classifieds portal Quikr, among others in India. In India, Upal Basu and Anupam Rastogi work for Nokia Growth Partners.