Nokia invests $250 million in venture funding

HELSINKI Tue Jan 29, 2013 3:23am EST

Nokia Lumia smartphones are pictured in a shop in Warsaw, January 11, 2013. REUTERS/Kacper Pempel

Nokia Lumia smartphones are pictured in a shop in Warsaw, January 11, 2013.

Credit: Reuters/Kacper Pempel

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HELSINKI (Reuters) - Finnish mobile phone maker Nokia said on Tuesday it would invest $250 million in a new venture fund for mobile technology startups.

It would be the third fund for Nokia Growth Partners, Nokia's global venture firm which invests in mobile hardware and component companies as well as digital advertising startups.

Nokia Growth Partners had $600 million under management, according to its website.

(Reporting by Ritsuko Ando; Editing by Mark Potter)

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