Intel’s venture-capital unit doesn’t plan to slow its activity in China despite the global crisis, company executives said as the fund announced three new investments in the country.
Cadol Cheung, managing director of the Asia and Pacific region for Intel Capital, said, “We believe a company with innovative technology will survive to be successful after the crisis is over.”
Echoing that sentiment, Intel President and Chief Executive Paul Otellini said at the media briefing that the global economic crisis will ‘not change our investment profile. I would expect to continue all our investments that we have committed to in China and elsewhere around the world.’
Intel Capital will invest $20 million in Shenzhen-based Trony Solar Holdings, a maker of thin-film solar-power equipment. Intel Capital said it also signed agreements to invest in NP Holdings, a maker of storage systems for renewable energy, and Viewhigh Technologies, a maker of health-care-related software. Intel didn’t provide financial details of those two investments.
Intel Capital’s second China Technology Fund was set up in April with $500 million to invest in Chinese start-ups. The first China Technology Fund was set up in June 2005 with $200 million, all of which was fully invested in Chinese companies.
Source: Wall Street Journal
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