Nokia Venture Partners today launched a new $500 million fund to invest in start up companies in the mobile Internet. Unlike Nokia's first fund, this second fund includes third party investors: Goldman Sachs, BMC Software, and CDBWebTech and others. Launched in 1998, Nokia Venture Partners is the leading global mobile internet fund. The fund brings a unique added value to its investments through Nokia's and other investor's combined resources, expertise and contacts.
Commenting on the global focus of the fund and Nokia's position at the forefront of the mobile Internet, Pekka Ala-Pietilä, President of Nokia said the company is looking forward to sharing their insight and vision of the future with entrepreneurs around the world. "This new fund is a clear signal that Nokia is very commited to expanding our venture capital activities, given the excellent return on investment so far and the exposure we have had to new, innovative technologies and developments in the Internet economy."
The new fund will continue to invest in leading edge wireless technology companies targeting high growth market opportunities. Currently, the new fund and the old fund have together backed over 25 portfolio companies from the US, the UK, Germany and Finland. Nokia Venture Partners has invested in companies such as Evoice, Covigo, Categoric, Digital Transit and fusionOne. The fund will also have an increased focus on Israel and the Asia Pacific region given the tremendous potential these areas have in the mobile Internet sector.
"As a global player in the investment and banking world, we are excited to work with Nokia as the global player in the mobile Internet," said Gene Sykes, Co-head of Technology Investing at Goldman Sachs. "With the explosive growth of users accessing the Internet via mobile devices, we feel that the mobile Internet has huge potential."
"As the leader in e-business systems management, we see a tremendous market opportunity in the emergence of mobile data," said Kirill Tatarinov, senior vice president, CTO and general manager of PATROL Business Unit, BMC Software. "Partnering with Nokia in the Nokia Venture Partners will allow us to combine our expertise in the end-to-end service level management with Nokia's strength in the mobile Internet."
According to CDBWebTech CEO, Carlo Pirzio Biroli, "Nokia Venture Partners represents a great fit with our portfolio of premier venture capital funds and an excellent partner for co-investing in the most promising wireless applications and technologies which wireless carriers are desperately seeking these days".
The fund will be renamed Nokia Venture Partners and is headed by John Malloy. Nokia Venture Partners is based in Menlo Park, California and also has offices in Washington, London and Helsinki.
ABOUT NOKIA VENTURE PARTNERS
Launched in 1998, Nokia Venture Partners is a leader in mobile Internet investments. Backed by Nokia, Goldman Sachs, CDBWebTech, BMC Software and others, the USD$500 million fund builds partnerships with leading edge wireless technology companies targeting high-growth market opportunities around the world. Nokia has invested in the fund with the intent to gain exposure to markets and technologies beyond the reach of Nokia's current business unit strategies. Nokia Venture Partners has a strong track record of leveraging the firm's combined resources, experience and contacts to help build successful businesses. For more information, visit www.nokiaventurepartners.com
ABOUT NOKIA
Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is one of the most broadly held companies in the world with listings on six major exchanges.
ABOUT GOLDMAN SACHS
Goldman Sachs is a leading global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The Firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
About BMC Software
One of the world's largest independent software vendors, BMC Software delivers the most comprehensive e-business systems management software with the fastest guaranteed implementation. This Service Assurance™ strategy enhances the availability, performance and recoverability of companies' business-critical applications. Companies can use this management methodology to demonstrate their ability to deliver optimal service to their customers and partners by joining BMC Software OnSite™, a certification program that includes solution implementation and regular HealthChecks performed by BMC Software Professional Services.
BMC Software is a Forbes 500 company and a member of the S&P 500, with fiscal year 2000 revenues exceeding $1.7 billion. The company is headquartered in Houston, Texas, with offices worldwide. For more information please visit BMC Software's Web site at www.bmc.com, or call 800-841-2031 or 713-918-8800.
ABOUT CDBWEBTECH
CDBWebTech is a listed private equity company founded by Carlo De Benedetti focusing on communication technology (infrastructure, applications and services). The company invests worldwide in premiere communications venture capital funds. In addition to investing through funds, it also makes selective direct investments in privately held companies alongside its partner funds. The company provides access to its portfolio of 22 companies and 40 funds in USA, Europe, Israel, Asia andIndia to the Italian and European communications markets.
CDBWebTech was founded by Carlo De Benedetti, Chairman and controlling shareholder of CIR, one of the largest listed holding companies in Italy. Mr. De Benedetti was also Chairman and CEO of Olivetti and the founder of Omnitel, the third European wireless company, and Infostrada the second fixed line phone operator in Italy.
Further information:
Jyrki Rosenberg
Nokia Ventures Organization
Tel: +358 40 5571074
Denise Crew
Nokia Venture Partners
Tel: +1 650 625 2519
Jane McMillian
BMC Software, Inc
Tel: +1 713 918 2036
Wireless/pager: +1 713 557 1604
Simona Heidempergher
CDB Web Tech
phone +39 02 62499528
simonah@cdbwebtech.com