Nokia invests $250 million in venture funding

Finnish mobile phone maker Nokia is looking to boost mobile technology startups.

Nokia phones. Picture:

HELSINKI -Finnish mobile phone maker Nokia said on Tuesday it would invest $250 million in a new venture fund for mobile technology startups.

It would be the third fund for Nokia Growth Partners, Nokia's global venture firm which invests in mobile hardware and component companies as well as digital advertising startups.

Nokia Growth Partners had $600 million under management, according to its website.