Intel sets up US$500 million China investment fund

Intel has set up a US$500 million fund to increase investments in China, Bloomberg reported. The chipmaker says Intel Capital’s China Technology Fund II is the company’s single largest fund in one country. Companies to be targeted by the fund over the next five to seven years include Holdfast Online Technology and Newauto Video Technology. Intel’s previous China fund invested US$200 million in more than 28 companies. The new fund was introduced as Intel is building a US$2.5 billion chip factory in Dalian, the company’s first such facility in Asia.