PALO ALTO, California, November 16, 2015 /PRNewswire/ --
Appoint Todd Forrest as Operating Partner and Bryan Biniak as Entrepreneur in Residence to boost operations as well as investments in the virtual- and augmented reality space
Nokia Growth Partners (NGP), the independent venture capital firm sponsored by Nokia, have appointed Todd Forrest as Operating Partner and Bryan Biniak as an Entrepreneur in Residence. NGP is expanding its operating capacity consistent with increased global investment activity following ten years of investment success, including three recent exits each exceeding $1 billion in enterprise value.
"We are delighted to welcome Todd Forrest as Operating Partner at NGP and Bryan Biniak as an entrepreneur in residence," said John Gardner, Managing Partner at NGP. Both have extensive operating and technology experience that will add much value to NGP and portfolio companies both in the US and globally."
Todd Forrest brings more than two decades of financial operating experience, including 12 years in private equity and the venture industry. Previously, he was Partner and CFO of JH Partners, a private equity firm with over $1 billion under management. Earlier he was CFO at Hummer Winblad, a venture firm. He started his career at PricewaterhouseCoopers. As Operating Partner, Forrest will oversee the firm's global operations and assist portfolio companies on financial and operating matters.
"NGP offers a unique venture platform as a global firm combining the discipline of a financial investor and strategic value of a corporate investor for over ten years," noted Todd Forrest. "The role of an Operating Partner overseeing global operations is vital as NGP expands investment activity in the US, Asia and Europe."
Bryan Biniak is joining NGP from Microsoft where he most recently served as general manager of the worldwide developer ecosystem and application marketplace for its smartphones and feature phones. Bryan has deep roots in technology and infotainment having founded and sold two companies as well as serving in executive leaderships positions at Nokia, Vivendi Universal, American Greetings Corporation and Harmonix Music Systems - developer of Guitar Hero and Rockband. Bryan will be working to bolster NGP's investment activity in augmented reality, virtual reality and connected vehicle infotainment.
NGP has managed Nokia's venture investments since 2005 as an independent venture capital operating in China, Europe, India and the US. NGP has an active portfolio of more than 50 growth-stage companies. Recent investments in the US include connected car technology Peloton, product intelligence company Indix and industrial IoT company Digital Lumens. Among NGP's many successful exits include the RocketFuel IPO and two of the largest tech acquisitions in China of UCWeb and GanJi.
About Nokia Growth Partners (NGP)
NGP is an independent fund manager sponsored by Nokia, backing entrepreneurs focused on building a connected world. NGP offers industry expertise, capital and an extensive network, enabling entrepreneurs to build disruptive, industry-changing companies and taking them to the global market. With offices in the US, Europe, India and China, NGP extends the reach of companies making their products and services local everywhere. For more information, please visit http://www.nokiagrowthpartners.com.
SOURCE Nokia Growth Partners