Intel Sets up $200 Million Venture Fund in China

From LightReading: Intel Invests in China

"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."

"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."

"Intel Capital, which has investment managers based in Hong Kong, Shanghai and Beijing, made its first strategic investment China in 1998 and since then has invested in close to 50 Chinese companies across nine cities in mainland China and Hong Kong. Eleven of these companies have since gone public or have been acquired, including AsiaInfo Holdings Inc., a telecom software supplier; Chinacast Communications Holding Ltd., a total solution service provider for remote education; Sohu.com, an Internet portal; Techfaith Holdings Ltd., an independent cell phone design house; and UTStarcom Inc., a telecom equipment manufacturer."