• August 1, 2008

Nokia said it would commit an additional $150 million to its venture capital fund, increasing the total for direct investment to $250 million. Nokia Growth Partners plans to launch operations in India and China and bolster its existing investment activity in the U.S. and Europe.

The phone giant's venture arm focuses on funding early stage companies that are developing new mobile technologies. Target investments include companies creating mobile applications and services that accelerate mobile data usage--including mobile payments, advertising and entertainment.

Along with direct investments, Nokia Growth Partners in the last year has also invested in other venture funds including BlueRun Ventures, Founders Fund and Gobi Partners, which focuses on IT and digital media startups in China.--Mark Walsh