Intel's investment arm, Intel Capital, has boosted its capability to invest in Chinese technology firms with the addition of a $500m fund targeting companies across a range of sectors, including wireless broadband, media, and telecommunications.
The new Intel fund invested in Holdfast Online Technology, which hosts third-party online and LAN-based games, and Newauto Video Technology, a provider of video equipment and integration services for Chinese television stations. Intel did not disclose the size of these investments.
Intel's first fund, the $200m Intel Capital Technology Fund, was created in 2005 and is fully invested, the company said. The fund has invested in around 70 companies in China, including Hong Kong.
The new China fund represents a sizable chunk of Intel's new investments. Between January 2006 and September 2007, Intel Capital invested $1.58bn, according to the company's website.
Intel Capital's total holdings were estimated to be worth $2.6bn in September 2007.