Intel Capital, the chip maker’s global investment arm, has made an investment of $67 million into eight technology firms based in China, says a report from ZDNet. Intel Capital’s recent investments into Chinese companies demonstrates the U.S. firm’s commitment to fostering technology innovation and accelerating the technology ecosystem development in China.
Intel completes 30 years in China
Intel’s investment in the Chinese firms comes at a time when the chip maker is celebrating its 30th anniversary in China, according to Arvind Sodhani, executive vice president of Intel and president of Intel Capital. “Intel Capital plays a key role in Intel’s engagement and collaboration with local Chinese start-ups and entrepreneurs, and has helped usher in the development of leading edge technologies and products,” Sodhani said.
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Using Intel Capital’s business development programs, these companies now have better resources to support innovation and development. The companies that Intel has invested in include Ninebot, Nuovo Film, Bluebank, Hampoo, 99cloud, AWcloud and PraFly. Intel Capital has also signed an investment agreement with Telink, a semiconductor design firm, the report said. These companies have their presence in different industries such as smart devices, robotics, the Internet of Things (IoT), the Cloud, Big Data and data analytics.
Helping startups grow
Since 1998, Intel Capital has made investments of around $1.9 billion in more than 140 technology companies in China. Of those, 35 have gone public or have been acquired. In October 2014, as part of its China Smart Device Innovation Fund, Intel invested $28 million in several Chinese companies specializing in wearable devices, smartphones and IoT technology. At that time, the tech giant stated that as the computing landscape changes, it will penetrate deeper into China to encourage innovation and reshape the future of computing.
Intel Capital has made an investment of $16 million in three Asian e-commerce sites – Bright Lifecare, Snapdeal, and Reebonz. The first two are based in India; the former is a health and wellness products distributor, while the latter is a consumer goods marketplace. The third is based in Singapore and is a private luxury goods retailer.
In 2012, Intel Capital funded five Asian companies as part of its “innovative technology” investment. It also created a $100 million investment fund in Taiwan to accelerate the development of “human-like” sensing technology, the report said.