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Nokia Growth Partners creates fund of funds for emerging technology markets12/02/2007. Source: AltAssets. 
 Menlo Park, California-headquartered Nokia Growth Partners, a private equity and venture capital firm backed by Nokia, has established a $100m fund of funds with a special investment focus on emerging technology markets, including India and China.
Nokia Growth Partners' inaugural $100m venture capital fund, launched in 2004, invests directly into growth stage technology companies that share an alignment of business interests with Nokia.
Tero Ojanpera, Nokia's executive vice president and CTO, said, 'It is obvious that today's mobile handset is about photos, music, TV, video, navigation, buddy finding, even social networking. Media sharing and staying connected is what the phenomena is all about.
'In order to capitalise on these trends, Nokia will need to partner with third parties and adapt and adopt with greater speed and agility than ever before. Nokia Growth Partners plays a key role in allowing Nokia to tap into venture capital driven innovation, and this expansion is further evidence of our commitment to venture capital investing as part of our renewal initiatives,' Ojanpera continued.
Nokia Growth Partners is fully funded by Nokia with $200m under management.
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