Intel Invests $50M in Brazil

Online staff -- Electronic News, 3/28/2006

Intel Capital, the investment arm of Intel Corp., announced today it has created 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," said Intel Corp. CEO Paul Otellini, in a statement.

Intel said 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. Examples include hardware, services such as broadband infrastructure and mobile wireless solutions using WiMAX technology; local content developers/providers; digital health solutions; IT service providers; and software solutions.

"Intel Capital is a global investor and we recognize the importance of Brazil as an emerging market leader," said Arvind Sodhani, president of Intel Capital, in the statement. "Intel Capital plays a critical role in Intel's wide-ranging efforts to stimulate technological innovation in the countries where we invest. 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."

Intel Capital has been a venture capital investor in Brazil since 1999, investing more than $35 million in 13 companies. In 2005, Intel Capital announced four local investments in Digitron, TelecomNet, Certsign and Neovia.