Menlo Park, California and New Delhi, India- July 19, 2004 - Nokia Venture Partners, a leading global venture capital firm focused on early-stage technology companies, expanded its global presence today with the opening of its office in New Delhi, India. This office opening highlights the importance of the growing Indian market and Nokia Venture Partners' commitment to it. The announcement follows Nokia Venture Partners' $10 Million investment in Pune based Nevis Networks, a startup company developing a new class of enterprise security solutions.
Nokia Venture Partners began to explore an office the Asia Pacific region in 2001 after the firm closed its second fund. Since then it has helped portfolio companies pursue business opportunities in Japan, Greater China, Korea and India.
"India is known for its vast pool of entrepreneurial talent and we hope to continue investing in emerging Indian companies," said John Malloy, Nokia Venture Partners. "Nokia Venture Partners is a global venture firm with a reputation for creating global companies. We are already active in the Indian markets both through the activities of current portfolio companies and our May investment in Nevis Networks. Establishing a presence in India strengthens our global footprint and we look forward to Sujit Banerjee leading our efforts in New Delhi."
"I am looking forward to helping current and future portfolio companies establish business opportunities in the large and fast growing Indian market," said Sujit Banerjee, Nokia Venture Partners. "India is an untapped resource for quality venture deals, and is also an ideal outsourcing alternative for many of our portfolio companies to leverage its IT services and business process outsourcing sectors."
Mr. Banerjee continued, "Nokia Venture Partners is a leading venture capital firm that works closely with its portfolio companies to capitalize on market opportunities worldwide. I am looking forward to working with the worldwide team, expanding Nokia Venture Partners' presence, sourcing new opportunities, and working closely with portfolio companies to capitalize on the Indian value proposition." Nokia Venture Partners will also work closely with Nokia Networks India to enhance value to the operators' business through the introduction of many Nokia Venture Partners portfolio companies around the world.
Nokia Venture Partners has funded more than 40 companies in the mobile infrastructure, components, software, applications and services sectors. Portfolio companies originate from the US, the UK, Germany, Finland, Iceland, India, Israel, and South Korea. For more information on Nokia Venture Partners' New Delhi office, contact Sujit Banerjee, Nokia Venture Partners.
About Nokia Venture Partners
Nokia Venture Partners is a leading global venture capital firm headquartered in Menlo Park, California. Backed by a number of value-add limited partners, the fund leads investments in early stage mobile technology companies around the world. Launched in 1998, Nokia Venture Partners has a strong track record of leveraging its combined resources, experience and contacts to help build successful mobile businesses. The firm also has offices in Washington DC, London, Helsinki, Hertzelia, Seoul, Hong Kong, New Delhi and Tokyo. For more information, visit http://www.nokiaventurepartners.com.
Media Enquiries:
Nokia Venture Partners
Communications
Tel. +1 650 462 7255
E-mail: press@nokiaventurepartners.com
Nokia
Communications
Tel. +358 7180 34457
E-mail: press.office@nokia.com