Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


Intel establishes $50 million venture fund for Middle East and Turkey
Fund to help stimulate local innovation and continued growth of IT industry


RIYADH, Nov. 15, 2005 – Intel Corporation today announced the establishment of a US$50 million venture capital fund to invest in technology companies developing innovative hardware, software and services in the region covering the Middle East and Turkey. The announcement of the fund by Intel Chairman Craig Barrett in Riyadh comes on the heels of a broad range of Intel activities in the Middle East and Turkey, highlighted by a week-long tour of the region by the Intel executive.

“The $50 million Intel Capital Middle East and Turkey Fund will help stimulate technological innovation and the continued growth of the IT industry in this emerging region,” said Arvind Sodhani, President of Intel Capital, Intel’s venture investment program. “We will invest in companies to accelerate technology adoption locally and foster development of unique and innovative technologies and content with potential for regional distribution.

“Intel Capital has been working in the region for some time and sees a strong demand for technology in broadband and mobile services, enterprise solutions, digital health, and consumer technologies,” said Sodhani. “That demand, combined with a measurable increase in entrepreneurial activity and some of the world’s fastest growing economies, indicates that the time is right to begin investing in the region.”

The fund will seek to invest in companies that complement Intel’s technology and platform initiatives, and seeks to further build out the IT and Internet infrastructure in the region. With this fund, Intel Capital will focus on opportunities to invest in hardware, services (including broadband infrastructure and mobile wireless solutions using WiMAX technology), local content developers/providers, digital health solutions, IT service providers and software solutions.

About Intel Capital

Intel Capital, Intel’s venture investment program, focuses on making minority equity investments to grow the Internet economy in support of Intel’s strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. Intel Capital has invested more than US$4 billion in approximately 1,000 companies in more than 30 countries since 1991. Since its inception, about 160 portfolio companies have been acquired by other companies and another 150 have gone public on various exchanges around the world. Intel Capital employs investment managers in about 25 countries worldwide. Last year alone, Intel Capital invested more than US$130 million in about 110 deals with approximately 40 percent of its investments made outside the United States. For more information, visit www.intel.com/capital.

Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information about Intel is available at www.intel.com/pressroom.

Intel is a registered trademark of Intel Corporation or its subsidiaries in the United States and other countries.

* Other names and brands may be claimed as the property of others.


Publisher Contact Information:

Intel Capital
+1 408-765-8080
intelcapital@intel.com

Company profile of Intel Capital
Past press releases of Intel Capital.

Data


26,368
Tech investments
From our Online Data Service
17,022
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Nov 15€2.4MMaterials
Nov 15€6.0MArtificial Intelligence
Nov 15€3.5MSoftware development
Nov 15N/AInternet services
Nov 14€4.5MOther Software
Nov 14€4.7MBusiness applications
Nov 14€9.0MKnowledge management

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Oct 1
The Link App
the link app launches version 2.0

Mar 29
Addex Therapeutics
addex sucessfully raises chf40 million in capital increase

Jan 2
Urban Jungle
urban jungle raises £1m in seed funding to build tech-enabled home ...





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.