Intel Establishes $50 Million Venture Capital Fund For Brazil
Intel Capital Brazil Technology Fund to Accelerate Technology Innovation and Growth
SAO PAULO, Brazil, March 28, 2006 – Recognizing Brazil’s position as South America’s largest economy and its increasing importance as a technology leader, Intel Capital, the investment arm of Intel Corporation, has created a US$50 million venture capital fund to promote technology growth in Brazil.
“Intel Capital’s investments will help stimulate technological innovation and growth of Brazil’s rapidly developing entrepreneurial community,” said Intel Corporation CEO Paul Otellini, who is in Brazil this week for discussions with industry and government leaders.
The fund will be used to invest in companies that can benefit from the rapid growth of technology in Brazil, and provide local businesses with capital to help nurture important technologies and products developed for local use. Examples include hardware, services (broadband infrastructure and mobile wireless solutions using WiMAX technology, among other services), local content developers/providers, digital health solutions, IT service providers and software solutions.
“Intel Capital is a global investor and we recognize the importance of Brazil as an emerging market leader,” said Arvind Sodhani, president of Intel Capital. “Intel Capital plays a critical role in Intel’s wide-ranging efforts to stimulate technological innovation in the countries where we invest. We anticipate that the establishment of the Brazil fund will inspire even more innovative business models among Brazilian entrepreneurs, and stimulate greater distribution of technology to the people of Brazil.”
Intel Capital has been a leading venture capital investor in Brazil since 1999, investing over US$35 million in 13 companies. In 2005, Intel Capital announced four local investments in Digitron, TelecomNet, Certsign and Neovia.
About Intel Capital
Intel Capital, Intel’s venture capital organization, makes equity investments in innovative technology start-ups worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$4 billion in more than 1,000 companies spanning more than 30 countries. During this time, about 160 portfolio companies have been acquired and another 150 have gone public on exchanges around the world. In 2005, Intel Capital invested about US$265 million in about 140 deals, with approximately 60 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
Intel, the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live. Additional information about Intel is available at www.intel.com/pressroom.
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