Nokia has announced an Additional USD 150 Million (totaling the venture fund investment to $250mn) through Nokia Growth Partners which will be more focused on Indian and Chinese startups.
Nokia Growth Partners will advise on Nokia’s other venture capital fund investments. Both of these activities focus on promising companies seeking change in the mobile landscape. Target investments include companies creating innovative mobile applications and services that encourage rapid adoption of mobile solutions, such as context and location based services, mobile payments, mobile advertising, music and entertainment and other mobile services and software. [source]
Vishal Gondal, Founder of IndiaGames Launches Seed Fund
Vishal Gondal, founder of IndiaGames (sold his major stake to Tom Online and later to UTV Software Communications) has launched a seed fund venture called Sweat And Blood Venture Group.
This entity will invest in startups at seed level, mentor them, and help them scale.
” Normally early stage companies do not need money as much as a lot of handholding. You have to spend time with them to take them to the next level. We provide them sweat and blood” [source]
Google to launch a venture fund
As per WSJ, Google is set to launch a venture fund that will invest in startups (the ones Google can’t acquire!) It’ll be interesting to see how ‘neutral’ will this venture be (i.e. will they allow M$ to touch these startups?) .[source, via]
Expect more M&A action by 2009!