Intel has announced that it is spinning off its global venture capital arm, Intel Capital, into a standalone investment fund.
Established in 1991, Intel Capital manages over $5 billion in assets and has invested in more than 1,800 companies. The company says it has created more than $170 billion in market value over the past decade, investing in silicon, devices, clouds, and frontier startups.
“The separation of Intel Capital is a win-win scenario as it provides the fund with access to new sources of capital to expand its franchise while allowing both companies to continue benefiting from a productive long-term strategic partnership,” said David Zinsner, interim co-chief executive officer and chief financial officer of Intel. “This step supports our broader strategy to maximize the value of our assets while driving greater focus and efficiency across the business.”
Intel says Intel Capital will function under a new name, and begin standalone operations sometime this year.
Standalone operations are expected to begin in the second half of 2025, at which time Intel Capital will operate under a new name. The existing Intel Capital team will move to the new company, and business operations will continue as normal throughout the transition.
The announcement is the latest illustrating the changes Intel is making as it continues its efforts to revitalize its business.
from WebProNews https://ift.tt/qACrOiQ
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