Sumeet Jain has confirmed he is to join corporate venture capital firm Intel Capital, where he will focus on consumer internet and mobile web investments as part of the consumer internet team.
Jain previously was a partner at CMEA Capital, which he joined in 2008. In that capacity he was involved in software, consumer internet and digital media investments.
He has also worked as an investment banker for Goldman Sachs.
He said that Intel has been “one of the most active tech VCs over the past 20 years with a true global footprint and an investing platform spanning from consumer internet to semiconductors.”
Jain wrote in his blog, “Deals with corporate linked venture capital participation reached a four year high in 2012.
“As an investor, I’ve transitioned from scepticism to actually seeking corporate venture partners out as co-investors because I’ve seen these partners bring value beyond dollars to the startups I’ve worked with.”
Since its inception in 1991 Intel Capital has invested $10.8bn in 1,276 companies in 54 countries with 201 of its companies having gone public with a further 317 having been acquired or merged with other businesses.
In 2012, it put $352m in 150 businesses with 57 per cent of funds invested outside North America.
Some of its recent deals included an investment into Estonian mobile payments business Fortumo.
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