Intel announces $300 million innovation fund

Intel Capital, the investment arm of the technology giant Intel, has announced a $300 million (£184 million) Ultrabook Fund to help create a new category of mobile device.

Intel Capital, the investment arm of the technology giant Intel, has announced a $300 million (£184 million) Ultrabook Fund to help create a new category of mobile device.

The global investment group, which makes equity investments in technology start-ups and companies, aims to invest in companies that build hardware and software technologies.

Fund managers are looking to take equity in companies which can produce technology that improves computer battery life, enable innovative physical designs and improve storage capacity.

Intel Capital says Ultrabooks fit between tablets and laptops, and the overall goal of the fund, which will be invested in the next three to four years, is to ‘create a cycle of innovation and system capabilities for this new and growing category of mobile devices’.

Arvind Sodhani, president of Intel Capital and Intel executive vice president, comments, ‘The Intel Capital Ultrabook fund will focus on investing in companies building technologies that will help revolutionise the computing experience and morph today’s mobile computers into the next “must have” device.’

Intel Capital, which has its Western European office in London, invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$10 billion in more than 1,140 companies in 50 countries.