Intel Establishes $200 Million China Venture Fund
June 14th, 2005 Leave a comment Visited 25 times, 1 so far today
Intel Establishes $200 Million China Venture Fund
Intel Corporation today announced the establishment of a US$200 million venture capital fund to invest in Chinese technology companies developing innovative hardware, software and services.
“With the establishment of the Intel Capital China Technology Fund, Intel plans to stimulate local technological innovation and the continued growth of China’s IT industry,” said Intel President and CEO Paul Otellini. “We will invest in Chinese companies to accelerate technology adoption locally and to foster development of innovative technologies with potential for global distribution.”
The Intel Capital China Technology Fund will be used to invest in companies that complement Intel’s technology initiatives and to further build out the Internet infrastructure in China. The fund will also provide local businesses with capital to help nurture important technologies and products developed in China. Examples of initial focus areas include cellular communications, broadband applications for consumers, and semiconductor design.
“The pace of IT innovation is accelerating,” said Intel Capital President Arvind Sodhani. “Companies around the world should look beyond China’s purchasing power and view the country’s innovators as potential suppliers. We look forward to working together with the country’s leading technology companies to grow China’s IT industry together.”
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