» Intel Capital to Invest Additional $500-Million in Chinese Tech StartupsTelecommunications Industry News

Telecom News Editorials Reports Glossary

Intel Capital to Invest Additional $500-Million in Chinese Tech Startups

6:15 am on April 14, 2008 | Category: Business, Corporate, Wireless Technology

The venture capital arm of the world’s largest chipmaker, Intel Corp., announced last week that it has set aside $500 million for investment in Chinese technology startups over the next five to seven years.

The new investment fund, known as Intel Capital China Technology II, will invest in wireless broadband, media, telecommunications, and environmentally friendly technologies, Intel said in a statement. It has already invested in Holdfast Online Technology Co., which hosts console games on networks, and Newauto Video Technology Inc., a vendor of television equipment serving Chinese TV stations.

In recent years, Intel Capital has greatly expanded its investment presence outside of United States, cutting North American investments to 63% of its total budget, and devoting nearly 30% of its funding to Asia.

The company’s first fund to target China in particular was the Intel Capital China Technology Fund, established in June 2005, which invested its entire $200 million budget over a period of less than three years.

“We are absolutely supportive of this new market,” said Arvind Sodhani, the president of Intel Capital.

Telecommunications Industry News