Intel Capital, US-based chipmaker Intel’s corporate venturing unit, has sold stakes in two companies.
France-headquartered car parts provider Valeo has acquired a 50% stake in CloudMade, the US-based developer of a machine-learning mapping platform for connected cars. CloudMade was one of six companies in which Intel Capital invested an aggregate of $26m in 2011.
Separately, Nasdaq-listed mobile game producer Glu Mobile said it had acquired a controlling interest in Crowdstar, a mobile and social gaming company focused on women, in an all-cash transaction that valued it at approximately $45.5m.
Founded in 2008, CrowdStar raised about $34.5m across 2011 and 2012 from corporate backers including Intel and media group Time Warner, as well as China-based online game developer The9 and NV Investments, which invests as businessman Aviv Nevo’s venture capital vehicle.
Both CloudMade and CrowdStar deals for Intel Capital were struck by its former investment director, Venu Pemmaraju, who reported them as exited on his LinkedIn page.