Intel Capital invests $40 million in China’s Neusoft
BEIJING : Microchip giant Intel Corp said on September 26 that its investment arm, Intel Capital, had agreed to invest $40 million in China’s Neusoft Group Ltd.
The investment, which was still subject to regulatory approval, was the largest to date from Intel Capital’s $200 million China fund, which was established a year ago, said Intel in a statement.
Intel and Neusoft also signed an agreement to strengthen co-operation in software and hardware integration, education and training, said the statement.
Intel had said earlier that individual Intel Capital investments are typically under $5 million and represent less than a 20 percent equity stake. Intel Capital invested $265 million around the world in 2005, around 60 percent of which went outside the United States, up from 40 percent in 2004.
Fund raising by venture capitalists for China hit a record $4 billion in 2005, according to research company Zero2ipo.com.