Sunnyvale
Geneva
Helsinki
New Delhi
Beijing
u
u
u
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“The premiere
global growth
investor in mobility
”
Nokia Growth Partners Overview
Global
Active
• $250M fund + $100M fund of funds
• Sunnyvale, Geneva, Helsinki, New Delhi, Beijing
• Portfolio companies in 9 countries
• Disciplined financial investor
• Active, engaged, lead investors
• Invest $5-15M for 5-20% stakes
Focuse
Focuse
dd
• Growth stage mobile companies
• Prepared mind, thesis approach to investing
• 8 investors with 125+ years experience
Succes
Succes
ss
• Preferred growth stage mobile sector investor
• Successful track record of IPO and M&A exits
• Strong global TMT network
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Selected Portfolio
Companies
Global Engagement Model
America
Asia
Europe
• Deep technical, handset,
• #1 brand & wireless
•#1 brand & wireless leader
and consumer expertise
leader in Europe
in Asia
• Ideal partner for
• Nokia brings scale,
•Nokia brings scale &
companies going global
distribution & innovative
efficiency where this is
• Offer global distribution
insight
critical to success
Advanced handsets across
• Ideal partner for apps,
•Applying best of breed
emerging & developed
mobile services &
ideas across all markets
markets
advanced mobile features
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Global Engagement Model
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NGP Selected 25 Global
Investments
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NGP Overview of Selected Exits
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Thesis Driven Investment
Approach
Working Closely to Build Ecosystem &
Increase Partnering Success
Company Strategy
&
Partner Criteria
Advertising
Mobile
Enterprise
NGP
Investment
Criteria
Media &
Entertainment
Hardware &
Components
Location &
Commerce
Theme Criteria: new $1B+ opportunities; integral to mobile; 5+ investments globally in 3+ years
NGP Investment Criteria: strong team, potential leader, 3x+ ROI potential, Nokia angle
Company/NGP Review: joint sector analysis, target market segments, company assessment
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Thematic Investing in Action: Imaging
Investing Across Imaging Value Chain Since 2006
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Bringing 3 trillion photos to life with Internet Markup Language
Invested in 2012; DX discussing Nokia first partnership
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Making better images with software; shipped over 250M software licenses
Panorama (Nokia first outside Japan) keynote feature at Nokia World 2010
Invested 2007; IPO in July ’11
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Wafer level optics for smaller, cheaper cameras; over 200M lenses shipped
NGP sponsored round in 2008 to save business; new CEO in 2010
Invested 2006; Exit expected in 2013
Thesis: disruptive opportunities as optics goes to silicon & cameras are central to phones
“It has been a pleasure to cooperate with NGP over the years, the NGP team brings
valuable insights and ideas for developing our future roadmap for camera and imaging.”
Juha Alakarhu
Head of Camera Technologies, Nokia SD
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Thematic Investing in Action: Location &
Commerce
Key Partnerships from 5 Years Investing in Location & Commerce
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•
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Innovation at the intersection of local, commerce, advertising, social
Verve – local ads in U.S. (2010); D&Y, F&Y – local commerce in India
(2011)
Verve a key SMB publishing partner for DXM in U.S.
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Leading online classifieds firms in China & India
Value migrating to local services; resource intensive plays
Invested 2009, 2010;
Ganji & Quikr key Local Commerce partners for Nokia
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GPS & A-GPS chip technology
sold to Broadcom in 2007 at 1.6x cost
Thesis: location is to mobile as search was for the Internet
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Investing in Industry Leaders
NGP Activities are Material Catalyst for Innovation at Nokia
• Companies are pioneers in NFC/payments, advertising,
optics/cameras, UI input, LBS, security, mobile entertainment,
cloud solutions & gaming
• $1.3B cumulative revenues among portfolio companies
NGP Facilitates Nokia Partnerships
• 83% portfolio companies with active Nokia or NSN partnerships
• 65% expanded Nokia relationships since NGP investment
• 39% started Nokia relationships since NGP investment
• 35% launched Nokia firsts following NGP investment
NGP Ancillary Benefits
• Window on ecosystem developments – spotted MTK & Android
growth 1+ years early
• Eyes & ears on venture & new technology developments
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Investing in Industry Leaders
Advertising
Location &
Commerce
#1 China mobile
ad network
#1 India ticketing site
Leading U.S. DSP
#1 India fashion site
#1 German offer service
#2 Indian travel site
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Components
#2 Indian offers site
Hardware /
Top 5 U.S. ad network
#1 global wafer
level optics maker
© Nokia Growth Partners 2012
#1 global
contactless cards
Location &
Commerce
Entertainment
#1 India property by UVs
#1 Chinese mobile
game site
#1 China classifieds site
#1 India classifieds site
#1 India financial portal
#1 India yellow pages
#1 Scandinavian movie
Site & streaming tech
#1 Indian private Co.
in cloud services
U.S. Local mobile ads
Leading U.S. power
Management ICs
#1 global
contactless POS
NGP Leveraged Ecosystem
Impact
Co-investing with wireless
operators, network & hardware
vendors
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A Leader in Mobile, Devices and
Internet
Enabler of local
needs in emerging
countries
Visualizing
next-gen
handsets.
Acquired by
Nuance
Advancing
the potential
of mobile,
components,
and services Advancing wafer-scale
Investing in
technologies to
bring rocket
science to
display ad
optimization
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micro optics in mobile
components
to transform the image
sensor market
Investment
strategy
overview
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Selected Mobile Opportunities: Smart
Devices
Themes: User Experience, Power Efficiency, Simplification
Display & User Interface
(Touch, Gesture, Power)
Video & image
processing
Pico Projectors
Camera
(Sensor, Actuator,
Optics, Coating)
Power Amplifiers
(less)
Integrated and multi
standard radio
Sensors &
Algorithms
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Battery Technologies
Cross Thematic Opportunities
Opportunities Greatest at Intersection of Core Themes
Local
Commerce
Analytics
Location
Social
Networking
Payments
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Advertising
Examples:
Groupon
FourSquare
Twitter
NGP Examples:
Ganji
Quikr
Zvents
Cross Thematic Opportunities
Opportunities Greatest at Intersection of Core Themes
Messaging
Virtual
Worlds
Virtual
Goods
Gaming
Social
Networking
Payments
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Examples:
DeNA, Gree, Mixi
TenCent
Zynga
MXit
NGP Examples:
SponsorPay
Advertising
Selected areas for review, high level
commets
Pico
Projectors
Augmented
Reality
Imaging
Natural UI
Wireless
Charging
Early still.
Challenges with
form factor, price,
luminesense.
Green laser seem
to be the missing
piece. Use case
evident for
consumer media
sharing, video,
photos.
Huge hype. Still
early. Interesting
potential, however,
AR is a platform not
a service in on
itself. Use case not
yet well
understood. Impact
on both hardware,
software and
application layers.
Great opportunity
for differentiation.
Very fragmented
supply chain. Very
few success
stories. Many one
off designs.
Standardisation
could have huge
impact. Great
opportunity for
differentiation.
Very exciting area
for innovation.
Many early players.
Combining new
materials as well as
electronics. Certain
use cases maturing
(voice, gesture).
Great opportunity
for differentiation.
Standard
discussions
settling. Few
investable
opportunities.
Integration on
device side
happening.
Ecosystem still
missing.
bTendo,
LightBlueOptics,
Maradin, Lemoptix,
Photodigm
Augmento, Metaio,
Total Immersion,
Zenitum, Layar,
Wikitude,
Tonchidot, Kooaba
Innanosys,
Invisage, Pelikan
Imaging, Heptagon,
Cambridge
Mechatronics,
Invisage, Anteryon,
DxO Labs
Fogale, Canatu,
Soundchip,
Primesense
Powermat,
Powerkiss, Fulton
Innovation,
Wipower
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Team
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© Nokia Growth Partners 2012
Global Team (Americas / Europe /
Asia)
Our team provides guidance, ideas and seasoned entrepreneurial advice
– always ready to do our share of heavy lifting as a partner.
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Global Team (Americas)
Managing Partner
• 20 years leading and managing investments and M&A
transactions across the IT spectrum
• Investments Paypal, Widerthan, Enpocket, Bitfone, MongoMusic
• Previous experience Nokia Venture Partners, BlueRun Ventures,
Nokia
• University of Chicago MBA, University of Cincinnati College of
Law, JD
• Based in Menlo Park, California
Annie Lin
• Experience across mobile, software and services, and private
equity domains
• Twin Bridge Capital Partners, a venture backed startup BeVocal,
Accenture, Microsoft and Hitachi Data Systems
• MBA, University of Chicago Booth School of Business
• Bachelor’s degree from The University of California, Berkeley
• Based in Silicon Valley
John Gardner
Senior Associate
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Global Team (Europe)
• 10 years in venture capital and investment management. 14
years in senior roles in mobile industry across Asia and Europe.
• M&A transactions generating in excess of $300M
• Founded 2 companies. Formely partner at Vertex Management
• Aalborg University, Denmark, MScEE
• Based in Geneva, Switzerland
Bo Ilsoe
Managing Partner
• 7 years technology experience
• Joined NGP early 2010
• Nokia M&A and Media & Games department
• Co-founder of social media company
• Low Temperature Laboratory research
• University of Helsinki MSS & MScE
Walter Masalin • Based in Helsinki, Finland
Principal
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Global Team (Asia: India)
• 18 years technology, strategy, consulting, and telecom
experience
• Founder & CEO of mFormation
• McKinsey Consultant
• Harvard MBA & Stanford MScE
• Based in Delhi, India
Upal Basu
Managing Director
• 10 years of wireless technology, banking & investing experience
• Joined NGP early 2010
• AT&T, Motorola & Verizon product research & management
• Comcast Investments & Altman Vilandrie consultant
• Wharton MBA, U Texas MSCS, & IIT Delhi BCSE
• Based in Delhi, India
Anupam Rastogi
Principal
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Global Team (Asia: China)
Paul Asel
Managing Partner
• 20 years global investment
experience in U.S., China, India,
Russia and Europe
• Realized investments created
over $1 billion value for investors.
M&A & IPO advisor in over $7
billion transactions
• Previous experience at
International Finance Corporation,
Telos Venture Partners, Delta
Capital, Merrill Lynch
• Stanford MBA, Dartmouth BA
• Based in Washington, New
Hampshire
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Lu Guo
Principal
• 20 years leading and managing
investments and M&A transactions
across the IT spectrum
• Investments Paypal, Widerthan,
Enpocket, Bitfone, MongoMusic
• Previous experience Nokia
Venture Partners, BlueRun
Ventures, Nokia
• University of Chicago MBA,
University of Cincinnati College of
Law, JD
• Based in Menlo Park, California
Yao Ge
Associate
• Experience across mobile, clean
technology, and retail industries
• Motorola Mobility, McKinsey,
Youth Business China (NGO)
• Co-founder of a biotechnology
startup
• Master's in Finance, Guanghua
School of Management. Double
Bachelor's degree, Economics and
Arts, Peking University
• Master's in International
Business, Grenoble Ecole De
Management,
• Based in China
Portfolio
Investments
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Adknowledge & Cloudmark
Overview
• The 4th largest advertiser marketplace,
specializes in performance-based marketing
solutions to connect advertisers with
consumers across multiple channels,
including email, search, domains, and social
networks
• Over 10,000 advertisers use the
Adknowledge ad network to promote their
offers
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Overview
• Global leader in carrier-grade messaging
security - real -time spam, virus and
phishing protection for fixed, mobile and
social networks
• The Cloudmark suite of security solutions
simplifies and advances the management of
messaging abuse, increasing network
utilization and reducing infrastructure costs
• Cloudmark solutions protect more than
one billion subscribers for the world’s largest
carrier networks
Deals and You & Fashion and You
Overview
• Launched in August 2010,
dealsandyou.com has emerged as India’s
fastest growing daily deals business, it
offers the hottest local and national deals in
over 250 cities across the country
• Venture promoted by the Smile Group
(Harish Bahl), Gaurav Kachru & Tarun
Sobhani, dealsandyou.com acquired online
portal www.wanamo.com in June 2010 to
enter the Indian marketplace & went live
with the new brand in Aug 2010
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Overview
• India’s #1 private sales website and a
leader in the Indian Online Fashion &
Luxury space, it is an invitation-only private
sales club, which partners with high fashion
and luxury brands
• Launched in January, 2010
Fashionandyou.com is amongst the top ecommerce companies in India
• Fashionandyou.com employs more than
450 people spread across offices and
distribution centers in Gurgaon, Mumbai &
Bangalore
Ganji.com & Gridsum
Overview
• Founded in March 2005, Ganji.com is a
leading online classified advertisements
platform in China
• Practical location-based information to its
users, covering almost every aspect of
people’s daily life
• Ganji.com was awarded RED HERRING
100 ASIA in 2009 and its mobile phone
version Ganji.cn won the award of TOP10
Life-focused Websites for Mobile Phones in
March 2010 by China Academy of
Telecommunication Research of MIIT
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Overview
• Gridsum is a leading provider of Online
Business Optimization products and
services, through its cloud-based platform
Gridsum Dissector, helping businesses
measure, analyze and optimize online
performance
• 300 clients among 18 industries, including
40 Fortune 500 and China 500 enterprises
Heptagon & Innovis
Overview
•Heptagon is the global leader in wafer level
optics for mobile phone cameras
• Founded in 1993 as a spin-off from
Helsinki University of Technology
• Nokia was the first Heptagon large OEM
customer. Close working relationship in
product development road map
• NGP Role: Facilitating Nokia relationship,
expansion into Asia, leading negotiations in
attracting follow-on financing for the
company
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Overview
• Providing telecom services to telecom
vendors and operators in various formats
ranging from Integrated Managed Services
to specific task/project based assignments
• Focused on providing End-to-End turnkey
services aimed at all technologies in mobile
and fixed line telecommunication domain
• Founded by telecom professionals with
more than 50 years of combined experience
in international telecom industry with
leaders like Nokia Siemens Networks and
Qualcomm
Inside Secure & Intermedia
Overview
• Global leader in contactless chips for
smartcards. Developing technologies for
near field communications (NFC) market for
mobile phones.
• Customers include Nokia, RIM, Samsung,
SK Telecom, KTF, BenQ, LG, Sagem, ZTE,
HID
• Nokia relationship: working closely on
mobile NFC standards
• NGP Role: strategic investor facilitating
industry standardization around ICL;
strategic guidance; facilitating Nokia
relationship
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Overview
• Premier provider of cloud services to Small
and Medium-sized Businesses (SMBs) and
the world's largest provider of hosted
Microsoft Exchange
• Office in the Cloud™ suite combines
Microsoft tools such as Exchange 2010
email, Lync Secure Instant Messaging, and
SharePoint document management with
Intermedia's proprietary offerings
• Intermedia also empowers thousands of
partners to sell cloud services under their
own brand
• Founded in 1995
KongZhong & Luminate
Overview
Overview
• Leading wireless interactive entertainment,
media, and community in China
• Ranked by China Mobile as #1 wireless
value-added service provider. Among top 5
mobile portals in China.
• Nokia relationship: KongZhong partner for
mobile services in China
• NGP role: Strategic guidance, global
engagement on mobile services best
practices, facilitating Nokia relationship
• Luminate, Inc. (previously known as
Pixazza, Inc.) is the worldwide leader in
making images interactive serving more
than 150 million users each month and 30
billion image views per year
• Luminate's platform combines Internet and
crowdsourcing technology to deliver the
optimal content relevant to online images
• Founded in 2008
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Madhouse & Netmagic solutions
Overview
•China’s largest & most intelligent mobile ad
network with over 5.6 billion targeted mobile
ad impressions in 2008
• Customers include TenCent QQ, Baidu,
Tom.com, Sina, Hewlett Packard, Dell,
Pepsi, Nokia, Nike, Kodak, Visa, Canon,
Johnson & Johnson, Coke, China Unicom.
• Nokia relationship: strategic partner &
major customer
• NGP Role: strategic advice, executive
recruitment, facilitating Nokia relationship
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Overview
• Netmagic Solutions is India’s leading
Managed IT Hosting Service Provider,
specializing in Internet Data Center &
Managed Hosting, Infrastructure
Management, Managed Security, Cloud
Computing, Application Hosting, Disaster
Recovery & Availability and Professional
Services
• Netmagic Solutions delivers mission
critical hosted applications for over 900 of
the world’s best-known enterprises from
multiple locations in a secure and seamless
manner
Network18 & Quikr
Overview
• Network18 is a leading media
conglomerate in India with over $500M
managed annual revenues
• Network18 is the partner of choice for
global media groups such as Viacom, NBC,
TimeWarner (CNN) and Forbes
• Network18 operates India’s leading brands
in television news, entertainment and home
shopping network; Internet travel, financial,
e-commerce and entertainment portals;
films; business print media; and yellow
pages
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Overview
• Quikr was launched in July 2008 and is
India’s leading horizontal classifieds
company
• It offers a web and mobile based
classifieds platform that addresses a wide
variety of local consumer needs
• The company has transformed itself from
an online industry leader to a player that
leads across online and mobile media In
2010, Quikr was ranked among the World’s
Top 250 Private companies by AlwaysOn
and featured in Red Herring’s Asia Top 100
finalists
Rocket Fuel Inc. & SponsorPay
Overview
•Ad serving technology platform that
combines social, behavioral, contextual,
geographical, search and other data
sources to understand consumer interest
and intent
• Over 50 of the largest US brands and
major ad agencies trust campaigns to
Rocket Fuel
• Rocket Fuel’s vision extends beyond
online and is extensible to other mediums
such as video and mobile
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Overview
• European market leader in the field of
virtual currency monetization for online
games, social apps, virtual worlds and
social networks
• Ad-funded payment solution
• Partners including Disney (Playdom),
Ubisoft, Bigpoint, 6waves, Perfect World
and IMVU on platforms such as Facebook,
MySpace, Netlog and Vznet - as well as
renowned advertisers such as Procter &
Gamble, AT&T, Skype, Match.com & Adobe
• Over 120 million satisfied customers
across more than 100 countries
Swype & UCWeb
Overview
• Acquired by Nuance in 2011; $100M+ exit
• Creates text input technology for screens
that enables users to create words with one
continuous finger motion across an onscreen keyboard.
• Optimized for many different devices,
including smartphones, tablets, TVs, gaming
consoles and more
• NGP Role: Swype’s software was
integrated into a broad array of Nokia
Symbian devices and was a top popular
download application on Nokia Store.
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Overview
• European UCWeb is the leading mobile
Internet company in China
• The UC Browser runs on more than 2,000
mobile devices from more than 40 brands
across a variety of platforms such as
Symbian, Windows Mobile, Java, MTK,
iPhone, Android and Brew
• Downloaded over 200 million times and 35
billion page views are served every month
• UCWeb has independent operations in
North America and Asia, serving more than
30 countries and regions
Verve Wireless & ViVOtech
Overview
• Verve monetizes local mobile media solutions help local media companies
monetize their mobile inventory and enable
advertisers to reach a valuable, premium
audience where they live, work and play
• Over 1000 local publishers use the Verve
platform to manage their mobile advertising
businesses and help make their sales
teams more effective
• Brand-safe, editorially-driven, high-quality
and transparent environment with marketleading targeting, creative and reporting
capabilities
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Overview
• Leading global provider of near field
communications (NFC) mobile payments
terminals and applications
• Customers include MasterCard, Visa,
American Express, Discover
• Nokia Relationship: partnering in several
NFC trials in US and Asia
• NGP Role: facilitate regular strategy
coordination meetings with Nokia &
Vivotech
Voddler
Overview
• Streaming video-on-demand service
Voddler offers the best films and series
legally on Internet-connected devices
• Voddler’s mission is to offer a premium
video service for users, advertisers and
content owners
• Offers both pay-per-view and free
advertising-funded titles, where and when
the viewer wants, with premium content
from the world’s leading content companies
• Founded in 2005, currently available in
Sweden, Finland, Norway and Denmark
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Fund Investments
Venture
Eco-System
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BlueRun Ventures
Overview
•Landmark Investments / Exits: Paypal
(IPO/eBay), WiderThan (Real), Bitfone (HP)
• Offices: Menlo Park, Shanghai, Beijing,
Finland, Israel, India, Korea
• Investment size: initial investments from
$1-6 million.
•$1B under management
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Representative Portfolio
Founders Fund
Overview
•Landmark Investments / Exits: Facebook,
IronPort (Cisco), Powerset (Microsoft)
• Office: San Francisco
• Investment size: primarily seed stage,
typical investment of $500,000-$5,000,000
• $270M under management
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Representative Portfolio
Gobi Partners
Overview
• Landmark Investments / Exits: Madhouse,
LingTu, Inspiry
•Offices: Shanghai, Beijing, Hong Kong
• Sectors: Digital media focus, including
gaming, social networking, IPTV, mobile TV,
online learning, location based services,
online & mobile advertising
• $200M under management
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© Nokia Growth Partners 2012
Representative Portfolio
Magma Venture Partners
Overview
• Landmark Investments / Exits: Phonetic
(Nuance)
• Offices: Israel
• Investment sectors: wireless, network and
internet infrastructure, communications,
semiconductors, media, security, data
storage, software solutions and
applications.
• $190M under management
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Representative Portfolio
Nexit Ventures
Overview
• Landmark Investments / Exits: Bitfone
(HP), Hybrid (nVidia), Mobile 365 (Sybase)
• Offices: California, Finland, Sweden
• Investment targets: software, enabling
technologies, services, and content targeted
at the mobile lifestyle
• $180M under management
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© Nokia Growth Partners 2012
Representative Portfolio
Oak Hill Capital Partners
Overview
• Landmarks: eGain (IPO), Align (IPO),
Cincinnati (IPO), Metrika (Bayer), Telecity
(IPO)
• Offices: Menlo Park, New York, Stamford
• Investment targets: Basic Industries,
Business & Financial Services, Consumer,
Retail & Distribution, Healthcare, Media &
Telecom, Technology
• $7B under management
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© Nokia Growth Partners 2012
Representative Portfolio
Technology Crossover Ventures
Overview
• Landmarks: Real (IPO), Alteon (Nortel),
BeVocal (Nuance), Brightmail (Symantec)
• Offices: Palo Alto, New York, London
• Investment targets: Internet, Financial
Technology, Infrastructure &
Communications, Software & Services,
Track Record: 40 initial public offerings and
over 25 strategic sales.
• $7.7B under management
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© Nokia Growth Partners 2012
Representative Portfolio
The Nokia location platform is powering the whole
Microsoft ecosystem among others
• Maps data for more than 190
countries in more than 50
languages and navigation in more
than 110 countries
• Information from Nokia Drive
users and local authorities to
provide traffic alerts in 26
countries, and also allow dynamic
rerouting
• Venue maps in over 4,600
shopping malls, train stations,
airport, sports venues, etc. in 35
countries
• Multi-modal routing: by car, on
foot (including footpaths,
shortcuts, etc. in over 400 cities)
and by public transportation (over
100 cities)
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© Nokia Growth Partners 2012
The Cloud
Cloud
Smart Factory
Personal
Cloud
Connected Car
Enterprise Cloud
Smart Home
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© Nokia Growth Partners 2012
Connected Car
Driverless Car
Navigation
Connectivity
Cameras
Connected Car
User Interface
Smart Materials
Power Storage
Gesture
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© Nokia Growth Partners 2012
Dashboard
U