Intel Establishes $250 Million India Venture Fund; Intel Capital India Technology Fund to Accelerate IT Innovation, Growth in India
NEW DELHI, India—(BUSINESS WIRE)—Dec. 5, 2005—
Intel Corporation today announced the establishment of a
US$250 million venture capital fund to help stimulate technological
innovation in India and drive continued growth of the country's
Information Technology (IT) industry.
"The pace of technology innovation is accelerating," said Intel
Chairman Craig Barrett. "Through the Intel Capital India Technology
Fund, Intel will help Indian companies drive technology adoption
locally and identify new business opportunities globally."
The fund will be used to invest in companies that can benefit from
the rapid growth in the domestic IT market segment in India, and
provide local businesses with capital to help nurture important
technologies and products developed for local use. Intel Capital will
also use the fund to selectively invest in technology-oriented service
companies that target overseas market segments using India's highly
talented resource base. Examples of initial focus areas include
cellular communications, broadband applications and wireless
technologies.
"Intel Capital consistently invests ahead of the curve, and we
feel that the timing to launch a fund in India could not be more
ideal," said Arvind Sodhani, president of Intel Capital. "Intel
Capital plays a critical role in Intel's wide-ranging efforts to
stimulate technological innovation and grow the IT industry in India.
We anticipate that the establishment of the India Technology Fund will
inspire even more innovative business models among Indian
entrepreneurs, help accelerate technology adoption locally, and foster
the development of innovative technologies with potential for global
distribution."
Intel Capital made its first strategic investment India in 1998
and since then has invested in more than 40 Indian companies across
seven cities. Several of these companies have since gone public or
have been acquired. These include two that were acquired by other
firms last year: Deccanet Designs, a communications design and
software services company, and FutureSoft, a telecommunications
product and services company. India Infoline.com Ltd., an online
portal, and Sasken Communication Technologies Ltd., a
telecommunications product and services company, went public on the
Indian stock market this year.
Other notable examples of current Intel Capital investments in
India include NIIT, a global IT learning solutions company; Nipuna
Services Ltd., a business process outsourcing provider; and Tejas
Networks, a telecom products company for the Indian market segment.
Intel Capital focuses on making equity investments and
acquisitions to grow the Internet economy in support of Intel's
strategic interests. Intel Capital invests in hardware, software and
services companies in several market segments, including computing,
networking and wireless communications. For more information, visit
www.intel.com/capital.
Since it started investing, Intel Capital has invested more than
US$4 billion in more than 1,000 companies headquartered in more than
30 countries. In addition, Intel Capital has provided Intel
Corporation with a net financial return, enough to build a
manufacturing fab. In 2004, Intel Capital invested more than US$130
million, and about 40 percent of its investments were in companies
based outside the United States. Last year, 21 portfolio companies
were acquired and 11 portfolio companies went public on stock
exchanges around the world.
Intel, the world's largest chip maker, is also a leading
manufacturer of computer, networking and communications products.
Additional information about Intel is available at
www.intel.com/pressroom.
Intel is a registered trademark of Intel Corporation or its
subsidiaries in the United States and other countries.
-- Other names and brands may be claimed as the property of
others.
Contact:
Intel Corporation
Otto Pijpker, 503-712-1520
Email Contact
Jennyfer Rajan, +91 80 2507 6530
Email Contact
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