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Nokia Launches $350 Million IoT Fund

What do you finance if you’re in the network business and need to encourage your customers to upgrade faster to the next generation of cellular tech (aka 5G)? Why the Internet of Things of course… The Nokia-funded VC firm Nokia Growth Partners has just announced a new $350 million fund focused specifically on IoT — and sponsored exclusively by Nokia. Announcing the fund at a press briefing today, Nokia CEO Rajeev Suri said: “We are launching a $350 million IoT investment fund through Nokia Growth Partners. Our goal is to help accelerate the broad IoT ecosystem, increase the demand for connectivity and generate returns from investments in compelling opportunities.”

Read the whole story at TechCrunch »

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