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Intel Capital ups China relations with new $100m ‘smart device’ fund

2 Apr 2014

tablet computerIntel Capital has launched a new $100m fund targeting development of smart devices such as phones, wearable technology and tablet computing in China.

The Intel Capital China Smart Device Innovation Fund was announced today by Intel CEO Brian Krzanich as part of a plan to build on the company’s 30-year history in China.

Krzanich also revealed the firm would be opening a new Intel Smart Device Innovation Center in Shenzhen to expand its work beyond tablets.

Intel Capital has invested more than US$670m in 110 companies in China since 1998 through two investment funds.

Last September Intel exited part of its stake in Chinese semiconductor maker Montage Technology Group through an IPO.

The Chinese company, which is also backed by AsiaVest Partners and Intel Capital, was floated at a price of $10 per share for proceeds of $71m.

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