Nokia Siemens Networks Finland has launched the Verso Spin-off Fund, and NSN is the first investor for the fund. The independent venture capital fund will support the formation of independent companies from projects that are not in the core of the Nokia Siemens Networks' strategy anymore, and offer initial funding. The aim is to get also other large companies as investors, thus helping the creation of new businesses in Finland. Anssi Kariola, who has been responsible for the new spin-off model and for establishing the fund, has been nominated to manage the Verso Spin-off Fund. The investment commitment from Nokia Siemens Networks is up to EUR 10 million. As part of the model, it will licence its technology to the start-up companies. The fund is also looking for other investors, such as other large companies wanting to invest in their spin-off projects via the fund. Several parties have advised on the creation of the new model, including the Ministry of Employment and the Economy, Finnvera and the Aalto University Center for Entrepreneurship. Finnvera is a potential investment partner to the Verso Spin-off Fund.
