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Nokia launches $100 million connected car fund
Nokia has launched a USD 100 million Connected Car fund to be managed by Nokia Growth Partners (NGP). The fund will identify and invest in companies whose innovations will be important for a world of connected and intelligent vehicles.
Nokia is already a player in the automotive industry providing location intelligence for connected vehicles through HERE. The NGP fund, working closely with HERE, will seek to make investments that also support the growth of the ecosystem around HERE's mapping and location products and services.
"NGP has been consistently performing well bringing in both new innovation and financial return to Nokia," said Rajeev Suri, Nokia President and CEO. "Our new USD 100 million venture fund launched today further underlines our belief that the connected car is a significant growth opportunity where NGP is poised to make great investments."
