Intel today announced that its venture investing organization, Intel Capital, completed three investments in Chinese companies from the US$200 million Intel Capital China Technology Fund. These are the first investments from the special fund. Intel Capital has invested in China for more than seven years and provided capital to approximately 50 companies in mainland China and Hong Kong.
"China is a force for technology innovation in the worldwide marketplace," said Arvind Sodhani, Intel Capital president. "The Intel Capital China Technology Fund plays a key role in Intel's wide-ranging efforts to stimulate local technological innovation, grow the IT industry and Internet economy, and inspire entrepreneurship among small and medium businesses in China. These three investments reflect Intel's continued commitment to helping China transform its economy."
Intel Capital invested an undisclosed amount in Chipsbrand Microelectronics (H.K.) Co. Ltd., a fabless semiconductor design company; Onewave Technologies Inc., a broadband entertainment technology solutions provider; and Verisilicon Holdings Co. Ltd., an application specific integrated circuit (ASIC) design foundry.
"Intel Capital is announcing the completion of these investments only two months after creating the China Technology Fund," said Duane Kuang, director of Intel Capital China. "Rapid growth of the local technology industry and the high quality of local entrepreneurs and innovation make China a prime place to invest."
Chipsbrand is a holding company for Chipsbank Technologies (Shenzhen) Co. Ltd., which provides system-level semiconductor solutions for the mobile storage and multimedia consumer electronics market segments. For more information about the company, visit www.chipsbank.com/en/index.htm.
Onewave Technologies, based in Shanghai, provides broadband entertainment technology solutions for network operators, enabling broadband content delivery to TV set-top boxes and enabling streaming media and video on demand to PCs. For more information about the company, visit www.onewaveinc.com.
VeriSilicon is a fabless ASIC design foundry focusing on providing semiconductor IP, design services and turnkey service that includes manufacturing, packaging, testing and delivery. VeriSilicon has operation centers in Shanghai, China; Taipei, Taiwan; Silicon Valley, United States; and Tokyo to service worldwide customers. For more information about VeriSilicon, please visit www.verisilicon.com.
Intel invests $200 million in China
Posted on Tuesday, August 16 2005 @ 6:40 CEST by Thomas De Maesschalck