Nokia Growth partners (NGP) is Nokia’s venture arm, which invets independently across the globe. NGP has grown its business in China by inking four deals in last six months. Nokia has announced USD 350 million of funding for global Mobility and Connected Car investments. NGP has also landed a big exit when UCWeb has been bought by Alibaba in China for a multi-billion dollar sum this month.
With an expanded investment team led by Partner and Managing Director David Tang, NGP has closed four new deals in China in the last six months in digital advertising, gaming, online dining delivery and crowdsourced work solutions. This year’s exits include mobile web company UCweb and game platform KongZhong. Alibaba’s acquisition of UCWeb has been reported as the biggest merger in the history of China’s Internet industry.
With four new deals this year in SolarVista Media, Meican and a yet unannounced game developer investment, NGP now announces Wei Chai Shi as the latest addition to its portfolio. Wei Chai Shi connects businesses to an on-demand mobile workforce who are paid to use their mobile phones to collect, capture, and report real-time data while going about their everyday activities. Wei Chai Shi has over 100 global clients with a network of over 400 cities in China.