Nokia has committed $400 million to NGP Capital’s Fund V, which will invest in companies developing emerging 5G use cases for industrial and business transformation. Target investments will be evaluated on product market fit, unit economics and technology leadership. In addition, companies will be assessed on key ESG metrics, to support progress from an environmental, social and governance perspective.
NGP Capital is a partner owned, independent venture firm with Nokia as its sole investor. This is the fifth fund the firm manages for Nokia and brings total committed, but uninvested capital, to more than $550 million and total commitments since inception to more than $1.6 billion.
Nishant Batra, Chief Strategy and Technology Officer, said: “A commitment to innovation is an integral part of Nokia’s strategy. Sustainable technology leadership requires us to anticipate, shape, and invest in the next technology windows. Our relationship with NGP provides a powerful avenue to explore external opportunities that support the execution of Nokia’s vision of the 5G era and beyond.”
