Nokia to invest £159m in partners as Chinese expansion continues

Written by: Samantha Tomaszczyk
Nokia to invest £159m in partners as Chinese expansion continues

Finnish manufacturer’s investment arm, Nokia Growth Partners, is looking to invest in mobility companies in the US, Europe and Asia, as its Chinese office takes on two new staff

Nokia has today committed $250 million (£159 million) to growing its partner companies, as the Finnish manufacturer takes on two new senior staff in China.

The money will be invested by Nokia Growth Partners (NGP) in companies in the US, Europe and Asia which work in mobility. NGP’s financial support is aimed at helping its partners extend their reach and take products to the global market.

Nokia’s investment body, which counts companies such as broadcaster Network 18 and cloud platform CloudMark as partners, has also appointed David Tang as managing director and Lu Guo as principal of its Chinese team.

David Tang joins NGP from technology company AMD where he was corporate senior vice president and president of AMD China. Previous to that Tang was vice chairman of Nokia China.

Lu Guo joins from Keytone Ventures where he was vice president responsible for mobile and internet investments. They will be based in Beijing.

NGP managing partner Paul Asel welcomed the appointments, adding that China is “an important market for Nokia.”

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