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Ganji mentioned in Nokia’s earnings release


NGP’s biggest exit so far, the acquisition of Ganji.com by China’s largest online marketplace 58.com announced in April, was mentioned in the Nokia Interim Report for Q2 2015 and January-June 2015:

“On a year-on-year basis, the change in Nokia’s non-IFRS other income and expenses was primarily due to higher other income in Group Common Functions, related to Nokia’s investments made through its venture funds. During the second quarter 2015, Nokia Growth Partners sold its holdings in Ganji.com, a major online local services marketplace platform in China, to 58.com. BlueRun Ventures also invested in Ganji.com and participated in the transaction, which valued Nokia’s total indirect holdings in Ganji.com at approximately EUR 200 million. Related to the transaction, Nokia recorded a gain of approximately EUR 110 million in the second quarter 2015. The final amount and timing of additional income or expense will depend on the value and date at which the venture funds liquidate the portion of the consideration that was received in shares.”

See the press release announcing the interim report on Nokia’s website.