Intel Capital injects $17m in Southeast Asian firms

Reebonz is one of the largest private sales e-commerce groups in Asia for luxury goods, and VC Corp is an internet infrastructure and services business.

The capital will be used to help increase uptake of technology and high-speed broadband across Southeast Asia.

"Reebonz and VC Corp are examples of companies that are successful in getting Southeast Asians online because they provide engaging experiences tailored towards the needs and cultural preferences of consumers in the region," said Arvind Sodhani, president of Intel Capital and executive vice-president for Intel.

Gregory Bryant, vice-president and general manager for Intel Asia-Pacific, added that Southeast Asia is one of the world's fastest-growing markets for high technology, driven by robust economic growth and a rising middle class. As a result, Intel has noticed strong demand for e-commerce and cloud-based services across the region.

Earlier this month, Intel Capital's Asia Pacific managing director, Sudheer Kuppam, who is already responsible for investment activity in Southeast Asia, India and Japan, was given the mandate to oversea the firm's deals in Taiwan and Korea as well. Based in India, he now oversees a team of investment professionals located in Singapore, Bangalore, Mumbai, New Delhi, Seoul, Taipei and Tokyo.

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• Topics
• Expansion
• Southeast Asia
• Technology
• Technology
• Intel Capital
• Singapore
• Vietnam