Intel Capital, the investment arm of technology giant Intel, announced today an investment of $23 million (around Rs 105 crore) in three Indian technology firms — July Systems, KLG Systel and commodity futures electronic exchange MCX. It did not disclose the individual amounts invested. Intel will fund these investments through its $250-million Intel Capital India Technology Fund, set up in 2005. Including these investments, Intel Cap has invested over 60 per cent of the fund. Intel Capital has invested more than $9.5 billion in over 1,050 companies in 47 countries. The company has been investing in India since 1998. It has invested more than $200 million (over Rs 920 crore) in India (including today’s announcements) across more than 60 companies. The company said it would focus more on new investments in 2010. Unlike 2009, when it chose to concentrate on portfolio firms and made follow-on investment. “Last year, we did see a need to focus on portfolio firms due to the global economic situation and hence our follow-on investment was also high. But, this year, portfolio firms are in a better position. For 2010, we do see a shift towards new investments,” said Arvind Sodhani, President of Intel Capital and Intel’s Executive Vice President. Intel Cap was one of the few venture capital outfits who continued to invest in the downturn as well. For 2009, the VC firm invested $327 million, including $100 million in new investments globally. It made 107 investments worldwide, including 25 new investments and 82 follow-on investments in portfolio companies. Of this, half its dollar investments were made outside the US and Canada. In India, last year, the VC firm closed five deals, of which three were follow-on. In 2008, Intel Cap invested $51 million (Rs 233 crore) in nine companies in India – six of these were new investments, while three were follow-on.For further: www.business-standard.com/india/news/intel-cap-invests-rs-105-crore-in-three-indian-companies/389792/
