Intel invests $40m in Asian tech companies
Intel Capital has committed $40 million to 10 Asian companies from China, India, Japan, South Korea and Taiwan. The technologies covered include semiconductors, green tech, software, security, social gaming and cloud-based services. Details of the size of each investment were not disclosed.
It takes Intel Capital's total spending for 2011 to $472 million across 72 deals. Nearly half of commitments by value been made outside of North America. Last month, the venture capital firm, which spun out from microprocessor giant Intel, announced a $20 million investment in six Indian companies.
"Technology adoption and innovation is an accelerating global phenomenon, and Asian entrepreneurs from both mature and emerging markets are on the cutting edge of this trend," said Arvind Sodhani, president of Intel Capital, at the 12th annual Intel Capital Global Summit in Huntington Beach, California.
Nine senior executives from the target companies were present at the event to offer insights into their operations and expansion plans. The companies are: G-cluster Global Corp. and Happiest Mind Technologies, cloud-based services providers from Japan and India, respectively; Hong Kong-based mobile media provider Animoca; Korea's Neosem, which produces test equipment for semiconductor manufacturing; TeliBrahma, an Indian mobile solutions developer; Japanese security software vendor OneBe Inc.; and Chinese companies Makepolo.com and Miartech, which offer B2B search services and intelligent energy management systems, respectively.
Planned investments, subject to satisfaction of closing conditions, include security software provider Insyde Software Corp. and social games developer SNSplus Inc. Both companies are from Taiwan.
An 11th investment, finalized hours into the Global Capital Summit, was announced in Indian online fashion retailer Fashionandyou.com. Intel Capital and Norwest Venture Partners are leading a $40 million round of funding in the company, alongside Sequoia Capital India and Nokia Growth Partners.
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