Nokia's corporate venturing unit invests in the cloud services company bought in a buyout by private equity firm Oak Hill Capital Partners last year.

Nokia Growth Partners, a corporate venturing unit of the Finland-based mobile handset maker, backed US-based cloud services company Intermedia on Wednesday last week.

Intermedia was founded in 1995. In May 2011 the company was bought by private equity firm Oak Hill Capital Partners for an undisclosed sum. It has grown its user base more than 40% on last year, Intermedia said.

Paul Asel, managing partner of Nokia Growth Partners, said: "Nokia Growth Partners invests in industry leading companies that are…