Intel Capital, the venture capital investment arm of Intel Corp, has invested a part of its $250 million India Technology Fund in Real Image Technologies, an IT firm based in the south Indian city of Chennai.
Real image specializes in digital media technologies for film, video, audio animation industry.
"We will continue to invest in Indian IT fims, as we are getting huge
returns from India and the IT market here is really booming. We are
looking for investments in the area of chip design, Wi-Max and services
space," Arvind Sodhani, president of Intel Capital, said.
Sodhani, however, did not disclose the amount invested by the fund in Real Image Technologies.
This latest deal was announced at the Seventh Intel Capital CEO Summit
currently underway in Mumbai, which brings together chief executives
from Intel Capital's portfolio companies worldwide with senior
executives from Global 2000 corporations, government representatives,
and education leaders for three days of learning and deal-making
focused on identifying and capitalizing on opportunities offered today
In December last year, Intel had announced its India Technology Fund,
aimed at investing in IT and software firms in the country. Intel has
so far made five investments under this fund – the earlier ones being
Maya Entertainment, Mauj, MobiApps Holdings and Persistent Systems, all
aimed at driving Indian innovation in wireless connectivity, digital
media content and consumer Internet.
Intel Capital made its first strategic investment in India in 1998 and
since then has invested in more than 40 companies across seven cities
in India. Several of these companies have since gone public or have
been acquired. Successful Indian portfolio companies include R Systems
International Ltd, which went public on April 26, 2006 on the Bombay
Stock Exchange and National Stock Exchange of India, Sasken
Communications, India Infoline and Rediff.
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