Intel sets up Chinese startup fund

Source: Exec Digital USA

Date :4/8/2008 5:02:29 AM

Intel Capital, the global investment division of chip manufacturer Intel Corp., announced today that it aims to inject $500 million into new technology ventures in China.

At a briefing in Beijing, Intel Capital announced that its Capital China Technology Fund II will be focusing on investments in wireless broadband, technology, media, telecommunications and “clean tech”.

“Since 1998, Intel Capital has invested in more than 70 companies across China and Hong Kong,” said Intel Capital president Arvind Sodhani. This includes the first $200 million China fund which the company says has been fully invested in local Chinese businesses.

“We aim to foster innovation and local entrepreneurship, while enriching the technical capabilities and global competitiveness of technology companies in the region,” Sodhani added.

Intel, whose processors account for three-quarters of the world’s personal computers, increased spending in China as it hopes to gain a bigger share of the world’s most rapidly expanding economy. Research suggests that chip sales in China will surpass $28 billion in 2011, driven up by growing demand for computers and consumer electronics.

Sine 1991, Intel Capital has invested in excess of $7.5 billion in approximately 1,000 companies across 45 countries worldwide.

April 8, 2008