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Intel invests more abroad than it does here; Meanwhile, Oakland gets its first deal?

oakland.jpg
Oakland on Map!
We're scratching our heads at this one.

Intel Corp, the Santa Clara chip company, and one of the largest venture capital investors around, says it invested 67 percent of its venture capital last year in companies outside of the U.S.

That's up from only 37 percent the year before, according to a story in VentureWire (sub required).

And Wednesday, we got an announcement about how the little town called Oakland on the east side of the San Francisco Bay, saw its first all-Oakland venture capital deal.

The PR people for Claremont Creek Ventures, an Oakland firm, invited us to a press conference held by Oakland Mayor Jerry Brown at the City Hall to announce the deal. For now, we'll take them at their word that Claremont's investment in PropertyBridge was the "First All-Oakland Venture Capital Transaction." But there's got to be other VC firms over there, no? (Comments please.)

"Downtown Oakland's increased vitality has now attracted venture capital," they announced.

This is really good news, and we're happy for Oakland. At the same time, it struck us as a bit sad that it took this long.

The investment was a $2 million first round of funding in PropertyBridge, which "enables electronic rent payments and other lease-related transactions over the Internet. Real estate industry investors Dennis O'Brien, founder of The O'Brien Group, and Jim Klingbeil, chairman and CEO of Klingbeil Capital Management, also participated in the financing."


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Comments

Good for PB! Good company and best of luck to them.

Adam Marchick on February 3, 2006 1:50 PM
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