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.