Tuesday, April 8, 2008

Intel Capital Announces $500M China Fund

Intel's venture capital arm, Intel Capital, said this morning that it has created a second China investment fund, Intel Capital China Technology Fund II. According to Intel Capital, the new fund will focus on wireless broadband, technology, media, telecommunications and cleantech investments that are complementary to Intel's corporate initiatives. The new fund more than doubles the firm's original $200M Intel Capital Technology Fund, which the firm said has been fully invested. As part of the new fund, Intel Capital said it has invested in Holdfast Online Technology Co. Ltd, a provider of platforms for hosting wide area network games; and Newauto Video Technology, a manufacturer of video equipment, networking, and system integration services for TV stations in China. Specific terms of those deals were not announced.