Intel's venture capital unit, armed with a $500 million bankroll, is extending its shopping spree in China.
Intel Capital Tuesday announced that its 3-year-old, $200 million China Technology Fund was fully invested and the launch of Intel Capital China Technology Fund II.
Among the initial investments announced by the new fund: Holdfast Online Technology, whose software lets gamer play against each other in a wide-area network and Newauto Video Technology, which provides digital editing and video systems and for TV stations in China.
Companies backed by Intel Capital's original fund include: Neusoft Group, Supcon Group, A8 Music, Chinacache International, Chipsbank Microelectronics, DAC, HiSoft Technology International, Kingsoft, Legend Silicon, Montage Technology, and Palm Commerce.
“Since 1998, Intel Capital has invested in more than 70 companies across China and Hong Kong," Arvind Sodhani, president of the venture capital unit of the semiconductor giant, said in a statement. Since its inception in 1991, Intel Capital has invested more than $7.5 billion with about 37 percent of the funding flowing to companies outside the United States.