Intel Capital devotes $500M fund to China
Intel Capital, already an active investor overseas, has created a new $500 million fund devoted to Chinese startups, more than doubling the $200 million fund it first set aside for investment in the country three years ago.
Money from the fund has already gone to Holdfast Online Technology and Newauto Video Technology, two startups that handle console game hosting and television equipment sales, respectively. The first fund was doled out to almost 30 companies.
Intel will aim investments from the new fund toward wireless broadband, technology, media, telecommunications and cleantech, according to the company’s press release.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.