Nokia Growth Partners is a global venture capital firm with US$250M under management for direct investments in promising mobile companies. Nokia Growth Partners also advises and manages US$100M for investments into other venture capital funds through Nokia's Fund of Funds Program.
Mobile handsets are in the midst of a revolutionary transformation from a simple voice-only device to an internet-enabled multimedia device. For many in the developing world, the Nokia device is their first internet-connected device. It could also be their first camera, navigation device or digital music and video player. Nokia now ships more cameras and digital music players than anyone in the world. This convergence of the mobile device with other traditional consumer electronics is blurring distinctions between telecom, media and technology companies. Smart mobile devices and networks can add intelligence to existing internet services to facilitate real-time, richer, more personalized access to the people and content users value.
The rapidity of this transformation demands that Nokia partner with external innovators to access and leverage competencies beyond its current core to maintain its competitive edge. Nokia Growth Partners was created to facilitate relationships between Nokia and private companies with innovative products and services that meet Nokia's needs.
Nokia and most everyone understand the "mobile phone" is in the midst of a revolutionary transformation from a simple voice-only device to an internet-enabled multimedia device. For many in the developing world, the Nokia device they own is their first internet-connected device. It could also be their first camera, their first navigation device, or their first digital music player. Nokia now ships more cameras and digital music players than anyone in the world. This convergence of the mobile device with other traditional consumer electronics is occurring in concert with the blurring of wireline and wireless network access, and the fusion of the concept of "mobility" with the web. There is a rising awareness that smarter mobile devices and networks can add intelligence to existing internet services to facilitate real-time, richer, more personalized access to the people and content users value.
The rapidity of this transformation demands that Nokia partner with external innovators to access and leverage competencies beyond its current core to maintain its competitive edge. Nokia Growth Partners was created to facilitate relationships between Nokia and private companies with innovative products and services that meet Nokia's needs.
VENTURE CAPITAL FUND
Nokia Growth Partners manages its Venture Capital Fund to focus on investments in information and communications technologies, ranging from components to services. We look to partner with companies in growth stage financing, with typical investments ranging from US$5 to $15 million. We are active investors adding value through our global perspective and focus on the mobile industry broadly defined with access to the technology and strategic insight from Nokia as well as its global presence across developed and emerging markets.
Nokia Growth Partners targets investments primarily in the United States, Europe and Asia in companies that:
- Have a commercially available product or service
- Are ramping revenues in large, growing markets
- Are beginning to experience adoption by major industry participants such as Nokia
The first and foremost objective of Nokia Growth Partners is to partner with and support entrepreneurs in growing their companies into global leaders in their chosen field. Nokia Growth Partners places a great deal of emphasis on the experience, talent and commitment that a company's management team brings to the table. Target companies will have a full management team with substantial sector experience that have developed a well thought out execution plan to maximize value to stakeholders. Our assessment of the team's ability to drive the enterprise towards a high-value exit scenario is a key determinant of our investment decision.
Nokia Growth Partners' value-add goes beyond such provided by traditional venture funds. In addition to the access of the Fund's vast network of contacts in industry and in the investment community, and the guidance it can provide on strategic and tactical issues faced by entrepreneurial companies, Nokia Growth Partners can facilitate and improve a target company's chances of engaging with Nokia in a win-win commercial relationship.
FUND OF FUNDS PROGRAM
In 2007 Nokia announced a US$100 million fund of funds program to invest in top-tier venture capital funds to gain deeper perspectives and technology access in specific emerging geographic and technology regions aligned with Nokia's interests. Nokia Growth Partners advises Nokia and manages limited partner investments in these funds. Target funds will have an established track record of investing into people, companies, and geographies that are relevant to Nokia's efforts to push the company beyond its core businesses, including:
- Services
- Digital Media & Content
- Emerging Markets (Including China and India)
As with all of its initiatives, Nokia Growth Partners' Fund of Funds Program will be driven by a Return-on-Investment focus and will only invest in teams that have proven capability to deliver top-tier financial returns.
