Nokia Growth Partners (NGP), the corporate venturing unit of the Finland-based telecommunications conglomerate, has become a shareholder in India-based media conglomerate Network18, which runs its own corporate venturing unit, Capital18. The stake was acquired by NGP in return for its shares in Web18, Network18’s digital division.
NGP invested in $10m of equity in Web18 in September 2009. In December last year, Network18 shareholders took the decision to merge Web18’s operations into those of Network18.
With the completion of the…
