Intel Capital selling $1 billion in assets, report says

Intel Capital, the venture arm of the Santa Clara chip giant Intel, is selling off $1 billion in assets according to a report by Bloomberg News.

The report, published Friday, quoted unnamed sources as saying that the venture fund is working with UBS Group AG to identify buyers for the assets.

A spokesman for Intel Capital declined to comment.

The report should come as no surprise to those who have followed the venture group since its former president, Arvind Sodhani, retired after 35 years with Intel.

Wall Street investment banker Wendell Brooks came to Intel to run mergers and acquisitions in September 2014 and assumed the helm of Intel Capital in January. In early February he blogged about a shift toward investing in ventures that support Intel’s long-term strategy.

“Our thesis is to invest in areas where Intel’s technology and other resources can make a difference to the portfolio company,” Brooks blogged. “First and foremost, we want to invest with companies that complement our business strategies. We also have a pathfinding objective, backing entrepreneurs who can create disruptive new possibilities. To give just one example, we invested in more than a dozen different startups to help create the groundbreaking Intel RealSense™ technology.”

Betsy Van Hees, an analyst with Wedbush Securities, said Brooks has been at Intel Capital long enough now to formulate a strategy. “It makes a lot of sense they’d be paring back on some things and making investments in other things that are going to drive their future,” she said.

Intel has about 430 active investments. It has not released the amount of money it has invested, but last year alone invested more than $500 million and has invested $11.6 billion since 1991 in 1,400 companies.

Photo: Intel headquarters (Mercury News Archives)

 

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  • TomPrieto

    More to the Intel Capital story see: No More Intel (Capital) Inside http://www.tomprieto.com/?p=162

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