Briefs: Intel sets up $50M Brazil venture fund

Mar 28, 2006
Intel logo

Intel established a $50 million venture-capital fund to promote technology growth in Brazil.

"Intel Capital's investments will help stimulate technological innovation and growth of Brazil's rapidly developing entrepreneurial community," the chipmaker's Chief Executive Paul Otellini said in a news release.

The fund will be used to invest in companies that can benefit from the rapid growth of technology in Brazil and provide local businesses with capital to help nurture important technologies and products developed for local use.

"We anticipate that the establishment of the Brazil fund will inspire even more innovative business models among Brazilian entrepreneurs, and stimulate greater distribution of technology to the people of Brazil," stated Arvind Sodhani, president of Intel Capital.

The company has been a venture-capital investor in the country since 1999 and has invested more than $35 million in 13 companies over the years.

Copyright 2006 by United Press International

Explore further: Facebook 'newspaper' spells trouble for media

add to favorites email to friend print save as pdf

Related Stories

How chips, PCs, services companies are faring

Aug 28, 2012

Personal computer makers have been scrambling to adapt to a technological upheaval unleashed by Apple Inc.'s line of sleek devices such as the iPhone and iPad and by a shift toward Internet-based software services instead ...

Recommended for you

Form Devices team designs Point as a house sitter

Nov 22, 2014

A Scandinavian team "with an international outlook" and good eye for electronics, software and design aims to reach success with what they characterize as "a softer take" on home security. Their device is ...

Man pleads guilty in New York cybercrime case

Nov 22, 2014

A California man has pleaded guilty in New York City for his role marketing malware that federal authorities say infected more than a half-million computers worldwide.

Dish restores Turner channels to lineup

Nov 21, 2014

Turner Broadcasting channels such as Cartoon Network and CNN are back on the Dish network after being dropped from the satellite TV provider's lineup during contract talks.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.