By March 2, 2012 Read More →

Intel Capital launches $100 million car fund, scouts deals in India

On Wednesday, Intel Capital, chipmaker Intel’s venture capital investment arm, announced the $100 million Connected Car Fund, focusing on technology innovation in the automotive industry. The latest theme-based fund follows the $300 million Ultrabook Fund unveiled last August and is its fourth such fund till date. The new fund will invest globally over the next five years in hardware, software and services companies that are developing technologies to promote new, in-vehicle applications and enable seamless connectivity between vehicles and devices such as mobile phones and sensors, said an Intel Capital press release.

Following the announcement, Sudheer Kuppam, Intel Capital’s managing director for Asia Pacific investments, told Mint that the fund is expected to invest in Indian startups that are active in the area of chip design related to the automotive segment. The India team has already started looking for companies in this area, the report said.

The firm’s earlier theme-based funds include the $200 million Digital Home Fund and the $500 million Communications Fund. In India, it invests primarily from the $250 million India Technology Fund. Some of its investments here include Sharekhan, India Infoline, Comat Technologies, Subex Systems, Rediff and Persistent Systems. Last October, the firm announced a $20 million combined investment in six companies including WhatsonIndia, TestingCzars and FINO. Last month, it participated in a $15 million growth capital round of funding in July Systems, alongside Updata Partners and WestBridge Capital.

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