Nokia today announced the launch of a $100 million 'Connected Car' fund in collaboration with its HERE daughter, to be managed by its venture capital arm, Nokia Growth Partners.

Nokia says the new, dedicated fund will "identify and invest in companies whose innovations will be important for a world of connected and intelligent vehicles".

In a blog post, HERE points out that Nokia Growth Partners typically invests in 'growth businesses' with previously "established products and services and an already sizeable turnover", so early-stage startups might want to consider that before they contact the company.

Nokia is the only investor in Nokia Growth Partners, which (indepently) manages about $700 million in total after the establishment of this fund.

Nokia is rebuilding itself after selling its mobile-phone unit to Microsoft. The Espoo, Finland-based company gets most of its revenue from wireless-network equipment but aims to make its maps business a stronger competitor against rivals including Google and Apple.

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