Nokia Plunks Another $150 Million Into Venture Fund
So far the fund has done best investing in mobile chip companies, some of which have been acquired by ATI (BitBoys for $44 million), Broadcom (Global Locate for $143 million), and Dolby (Coding Technologies for $250 million). But it is also an investor in mobile video service Kyte. Generally, it is a alter-stage growth fund that looks for companies with a product ready to ramp up.
The new cash comes at a time when the mobile Web is generating excitement again in Silicon Valley. Most of that excitement right now surrounds the iPhone. Throwing around a little cash to encourage startups to develop cutting-edge apps for Nokia phones is not a bad strategy. The fund will also invest more heavily in China and India, where mobile growth far outstrips the U.S.