
Nokia commits $400m to NGP Capital for investments in game-changing growth companies
Press Release
Nokia commits $400m to NGP Capital for investments in game-changing growth companies
New venture fund, Fund V, launched by NGP Capital, with Nokia as a sole investor
Fund will support Nokia's technology leadership for the 5G era and beyond by investing in promising Edge Cloud, Cybersecurity, Digital Industry and Digital Transformation growth stage companies
Investments will encourage financial growth, ecosystem expansion and the exploration of ground-breaking technologies and business models
3 February 2022
Espoo, Finland - Nokia today announced its commitment to NGP Capital's Fund V, a new $400m venture fund that will focus on promising, growth stage companies. The fund's emphasis on companies developing emerging 5G use cases for industrial and business transformation aligns closely with Nokia's technology leadership vision and its efforts to maximize the value shift towards cloud.
Aiming to establish new partnership opportunities, the fund will invest in private companies that generate attractive financial returns and are strategically relevant to Nokia. Target investments will be evaluated on product market fit, unit economics and technology leadership. In addition, companies will be assessed on key ESG metrics, to support progress from an environmental, social and governance perspective.
Fund V will create value for Nokia by tapping into strategic domains and generating financial investment gains, following the venture model NGP Capital has been running for Nokia since 2005.
Nishant Batra, Chief Strategy and Technology Officer, said: A commitment to innovation is an integral part of Nokia's strategy. Sustainable technology leadership requires us to anticipate, shape, and invest in the next technology windows. Our relationship with NGP provides a powerful avenue to explore external opportunities that support the execution of Nokia's vision of the 5G era and beyond.
The fund is part of Nokia's broader innovation initiatives, providing insight and expanding into new, complementary markets and ecosystems to its core business. This activity works in tandem with the company's internal disruptive research and incubation initiatives, including Nokia Bell Labs.
NGP Capital is a partner owned, independent venture firm with Nokia as its sole investor. This is the fifth fund the firm manages for Nokia and brings total committed, but uninvested capital, to more than $550 million and total commitments since inception to more than $1.6 billion. Per industry standard practice, the capital will be called throughout the 10-year lifecycle of the fund.
About Nokia
At Nokia, we create technology that helps the world act together.
As a trusted partner for critical networks, we are committed to innovation and technology leadership across mobile, fixed and cloud networks. We create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.
Adhering to the highest standards of integrity and security, we help build the capabilities needed for a more productive, sustainable and inclusive world.
About NGP Capital
NGP Capital is a global venture capital firm with over $1.6 billion under management, investing in growth-stage technology companies within the Edge Cloud, Cyber Security, Digital Industry, and Digital Transformation. NGP Capital backs entrepreneurs building a responsible and inclusive world where the confluence of sensors, mobility, software, and cloud solutions will connect people and industries in new ways, transforming how we live and work. Since 2005 NGP Capital has invested in more than 100 companies, 17 of these have achieved unicorn status. NGP Capital is active in the U.S., Europe, and China. Visit us at www.ngpcap.com and follow us on LinkedIn (ngp capital) and Twitter (@ngpcapital).
Media Inquiries:
Nokia
Communications
Email: press.services@nokia.com
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