Continuing to sponsor funds and promoting venture investments, Nokia announced the commitment of $150 million in the company’s private equity and venture capital arm, Nokia Growth Partners to seek investment opportunities in the emerging markets of India and China.

The investment areas to be focused upon will include firms creating advanced mobile applications and services that boost speedy adoption of mobile solutions like context and location based services, mobile payments, mobile advertising, music and entertainment and other mobile services and software, said Nokia Growth Partners.

With the additional investment announced, Nokia Growth Partners will set up direct operations in India and China and enhance investment activity in the U.S. and Europe. Further it will continue carrying out investments that are of strategic importance to Nokia.

Whilst undertaking direct investment activities, Nokia Growth Partners will also provide advice to Nokia on its other venture capital fund investments.