US-listed chip maker Intel’s eponymous corporate venturing unit has invested $40m in 10 companies.
The latest 10 investments by Intel Capital are split geographically between the US, China, India, South Korea and Brazil.
In the US the deals are for:
- secure content sharing platform Box’s $125m series E round led by private equity firm General Atlantic that closed in August;
- social radio platform Jelli, which raised $9m in its B round led by Intel Capital and venture capital firm Relay Ventures, as well as First Round Capital and angel investors that backed the $7m A round in May 2010;
- mobile proximity platform NeuAer (also known as NewAer) founded by serial entrepreneur Dave Mathews; and
- cloud services provider Tier 3, which raised $10m in its B round led by Intel Capital, with participation from returning venture capital investors Ignition Capital and Madrona Venture Group that had previously provided $8.5m such its foundation in 2006;
In India:
- content distributor Hungama.com (formerly known as Virtual Marketing (India);
In China:
- integrated circuit design house FocalTech;
- three-dimension game developer Transmension Technology; and
- mobile advertising provider UUCun previously backed by Innobridge Venture Fund.
In South Korea:
- social game developer LIFO Interactive, which produces games such as Penguin Almighty and Olympic Games City and has been backed with $500,000 by local venture capital firm Stonebridge Capital in mid-2011;
In Brazil:
- electronics payment platform PagPop backed by angel investors such as Matt Coffin after incubation at 21212.
The deals take Intel Capital’s total invested for the calendar year to September 28 to $250m in 100 companies and Arvind Sodhani, president of Intel Capital and Intel executive vice president, said the corporate venturing unit was on track to invest $400m by end-December.
For the year so far, Intel Capital has invested $190m in 45 new investments and the remainder in 55 follow-on investments.
So far this year, Intel Capital has also had 26 exits, including seven flotations and 19 trade sales or mergers.
Last year, Intel Capital made 158 investments including 89 new investments and 69 follow-on investments. It invested about $526 million, including $409 million in new investments. Intel Capital had 6 exits; 6 portfolio companies completed IPOs and 28 were acquired, either through a purchase or a merger.
The latest 10 deals were announced at Intel’s 13th annual Global Summit, which brings together about 1,000 Intel Capital-funded entrepreneurs and executives from market-leading Fortune 2,000 companies.