Intel Capital and China Investment Corporation announce technology investment agreement

12 February 2010

Intel Capital, Intel Corporation’s global investment organisation, and China Investment Corporation (CIC), China’s sovereign wealth fund, are to work together to invest in new technology innovation.

The agreement, intended to pair the resources of CIC with the technology expertise of Intel Capital, will identify and support strategic investments in pioneering companies across a wide array of technology sectors including cleantech, software and services, mobility and digital home, the companies said.

‘China Investment Corporation believes that technology is critical to economic and societal growth,’ said Gao Xiqing, vice chairman, president and chief investment officer of the China Investment Corporation.’We look forward to working with Intel Capital to identify the next generation of ground breaking technologies.’

‘Intel Capital is committed to accelerating technology innovation and nurturing entrepreneurial leadership around the globe,’ added Arvind Sodhani, president of Intel Capital and Intel executive vice president. ‘This collaboration, combining the unique advantages of Intel Capital and CIC, will help drive the next generation of innovative technologies throughout the world.’

CIC and Intel Capital will explore investments outside of China, combining resources to both evaluate potential investments and support companies in their next stages of development, a statement said.

Copyright © 2010 NewNet

This story was published on Friday, February 12th, 2010 at 6:17 pm and is filed under Asia, companies. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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