Intel creates Chinese IT investment fund

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Intel on Monday announced it was establishing a $200m venture capital fund to invest in innovative Chinese technology companies.

The world's biggest chipmaker is looking to Asia and China in particular to drive future growth.

Paul Otellini, chief executive, said the Intel Capital China Technology Fund would be used to stimulate local technological innovation and the continued growth of China's IT industry.

“We will invest in Chinese companies to accelerate technology adoption locally and to foster development of innovative technologies with potential for global distribution,” Mr Otellini, said.

Intel Capital is the investment arm of the company and has been investing strategically in China since 1998.

It has put money into nearly 50 Chinese companies across nine cities.

Intel reorganised in January, creating a Channel Products Group as one of five new divisions, with the aim of pushing its products in global markets.

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