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NEWS FLASH
2000 - 45 (Dec. 2000) ACQUISITIONS, MERGERS & AGREEMENTS Nokia Venture Partners Launches new $500 Million Fund In an effort to expand its venture capital activities, Nokia Venture Partners will invest $500 million in start-up companies with a focus on the wireless Internet. The fund will be backed by Nokia as well as third party investors such as Goldman Sachs, BMC Software, and CDBWebTech. Building on the success of its first fund, Nokia Ventures, launched in 1998, Nokia Venture Partners will provide not only Nokia’s expertise and resources but also the knowledge and experience of its partners.The company announced that both funds will fall under the name of Nokia Venture Partners. Nokia Venture Partners:
To date the new fund and the old fund have invested in such companies as Evoice, Covigo, Digital Transit and fusionOne. Nokia Venture Partners represents a great fit with our premier venture capital funds and an excellent partner for co-investing in the promising wireless applications and technologies which wireless carriers are seeking today, said CDBWebTech’s CEO Carol Pirzio Biroli. For more information: http://press.nokia.com/PR/200012/801027_5.htmlMobileinfo Comments and Advisory: A good initiative by Nokia. Note: This news release may contain forward-looking statements. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures. All trademarks used in this summary are the property of their respective owners. NEWS
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