launched a $500 million fund to invest in mobile Internet start-up companies engaged in wireless technology.
The Finnish mobile phone company said the fund is backed by other investors, including
. The new fund and a fund started in 1998 have together backed more than 25 portfolio companies from the U.S., the U.K., Germany and Finland.
Shares of Nokia were recently up 1.3%, or 56 cents, to $44.13 in trading on the
New York Stock Exchange