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| Intel Capital invests Rs 110 cr in three Indian firms | |
| BS Reporter / New Delhi January 14, 2009, 14:58 IST | |
Intel Capital, the investment arm of Intel Corp has invested $23 million (around Rs 110 crore) in three Indian companies - One97 Communications, IndiaMART.com and Global Talent Track (GTT).
One97 Communications provides value-added services like ring tones and games for mobile phones, IndiaMART.com is an online business-to-business marketplace, while Global Talent Track is a vocational educational institute.
"We have four focus areas for investment-WiMax and mobility, education, consumer internet and clean technology and we take minority stakes of around 20 per cent in the companies we invest in,” said Sudheer Kuppam, managing director of Intel Capital for India, Japan, Australia, New Zealand and South East Asia.
Around $10 million (Rs 48 crore) of the total will go to IndiaMART.com, an online business-to-business marketplace.
The funding for these investments comes from the ‘Intel Capital India Technology Fund’ that was set up in 2005. Of the $250 million (Rs 1,200 crore) Fund, almost 40 per cent has been used. Last year, Intel Capital invested approximately $50 million (Rs 240 crore) in nine companies in India of which six were new investments and three were follow-ons.
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