Intel Establishes Venture Capital Fund For Brazil

Recognizing Brazil’s position as South America’s largest economy and its increasing importance as a technology leader, Intel Capital has created a US$50 million venture capital fund to promote technology growth in Brazil. The fund is part of the investment arm of Intel Corporation.

“Intel Capital’s investments will help stimulate technological innovation and growth of Brazil’s rapidly developing entrepreneurial community,” said Intel Corporation CEO Paul Otellini, who is in Brazil this week for discussions with industry and government leaders.

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 (broadband infrastructure and mobile wireless solutions using WiMAX technology, among other services), local content developers/providers, digital health solutions, IT service providers and software solutions.

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