Intel invests $23 mn in three Indian companies

Business Today,

Computer chipmaker Intel Corp’s global investment arm Intel Capital has invested $23 million in three Indian companies, the firm said on Wednesday.

Intel invests $23 mn
The investment is part of the $250-million Intel Capital India Technology Fund that the firm has set up. The investment will be in telecom value added service provider One97 Communications, online business-to-business (B2B) marketplace, and Global Talent Track (GTT), which provides training for jobs in the BPO sector.

Intel did not specify the individual investments in the three companies.

“These investments demonstrate Intel Capital’s unwavering commitment to investing in technology innovation globally,” said Arvind Sodhani, president of Intel Capital and executive vice-president of Intel.

The private equity (PE) firm has been investing in India since 1998, while the specialised $250-million fund was set up in December 2005. Of this, it has utilised about $125 million.

The company has similar funds of $500 million and $50 million for China and Brazil, respectively.

Intel had last July announced a $17-million investment in three Indian companies including online travel agency

It has also invested in ItzCash, a cash payment system similar to Paypal, technology training and solutions provider NIIT, and telecom infrastructure manufacturer Tejas Networks amongst other companies.

“Since 1998, Intel Capital has invested in approximately 60 Indian companies across 10 cities, showing the importance we place on fostering entrepreneurship and technology innovation in the country,” added Sudheer Kuppam, Intel Capital managing director for India, Japan, Australasia and South-East Asia.

The PE Company has globally invested in companies like Cnet, Research In Motion (RIM)- the makers of Blackberry, software developer Red Hat, and silicon chipmaker Broadcom Corp.