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Intel Capital invests $23 mn in three firms

Intel Capital invests $23 mn in three firms
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First Published: Wed, Jan 14 2009. 10 42 PM IST
Updated: Wed, Jan 14 2009. 10 42 PM IST
Bangalore: Intel Capital, the global investment arm of chip maker Intel Corp., on Wednesday said it has invested $23 million (Rs112 crore) in three Indian companies.
The investment will go to One97 Communications (P) Ltd, a mobile value added services provider, IndiaMART InterMESH Ltd, an online marketplace connecting Indian suppliers with domestic and international buyers, and Global Talent Track, a vocational educational institute. Intel refused to disclose individual investment in the firms. The firm, which invests out of a $250 million Intel Capital India Technology Fund, also said it will focus more on investments in growth and late stage companies this year than early stage firms.
“You can’t save yourself by not investing in a downturn. Asset classes across the board have deflated. We continue to be very bullish and are looking for attractive investment opportunities,” said Sudheer Kuppam, managing director, Intel Capital for India, Japan, Australia, New Zealand and South-East Asia.
The investment comes days after Intel warned that its fourth quarter revenue would be about $8.2 billion, down 23% from the same period last year, due to a weaker demand for computer processors.
The Intel Capital India Technology Fund was set up in December 2005 and it has so far invested 40% of its corpus.
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First Published: Wed, Jan 14 2009. 10 42 PM IST