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Intel Capital to invest Rs.917 crore in Chinese tech firms

Posted: 28 Jun 2006     Print Version  Bookmark and Share

Keywords:capital  invest  Intel Capital  Montage Technology  Star Softcomm 

Intel Capital has said that it would provide capital under its Rs.916.60 crore ($200 million) China Technology Fund to fabless IC design firm Montage Technology, Star Softcomm, Winking Entertainment and Campus Media Inc., the operator of an advertising network in Chinese university cafeterias.

An Intel Capital spokesperson declined to specify the size or exact terms of its investments in the Chinese firms, but said its spending on individual companies is typically in the Rs.4.58 crore ($1 million) to Rs.22.92 crore ($5 million) range.

The company bases its investment picks on the potential "to foster a closer relationship with the investee in areas such as co-marketing [and] technology development," and companies' alignment with Intel's corporate objectives in areas such as mobility and manufacturing, the spokesperson said.

"Intel Capital expects a return on investment in line with the rest of the venture capital industry," the spokesperson added.

Intel's China Technology Fund has invested in 12 Chinese companies since it was established in June 2005. Intel Capital president Arvind Sodhani said the firm sees China as "a leader both in terms of product innovation and IT deployments."

Several of the firms in the Intel Capital portfolio, including Actions Semiconductor, PCCW Hong Kong and have been listed or acquired by other companies.

Intel Capital said it is targeting a greater percentage of its investments at emerging markets.

In 2005 the company invested some 60 per cent of its Rs.1,214.50 crore ($265 million) in venture capital in markets outside the U.S. Over the last year, Intel Capital has announced a series of investment funds for specific emerging markets, including a Rs.1,145.75 ($250 million) fund for India, Rs.229.15 crore ($50 million) for the Middle East and Turkey and another Rs.229.15 crore ($50 million) fund for Brazil.

- Jonathan Hopfner
EE Times

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