Intel Capital
invests $23 m in three cos
New Delhi:
Intel Capital, the strategic investment arm of Intel Corporation,
has announced an investment of $23 million in three Indian
companies-IndiaMART.com, an
online B2B marketplace; One97 Communications, a provider of telecom
managed value-added services and Global Talent Track, a vocational
educational institute. The funding will come from the $250 million
Intel Capital India technology fund, which was established in
December 2005. However, the company refused to give a break-up of
investment in the three companies.
According to Sudheer Kuppam, MD, Intel Capital for India, Japan,
Australia, New Zealand and South East Asia, so far, the company has
invested about 40% of the fund. Last year, it invested about $50
million in nine companies in India. That amounted to 8.5% of its
total funds globally, excluding a $1 billion investment in Clearwire
Corp.
According to Kuppam, wimax and mobility, green technology, consumer
internet and education will be the key focus areas for the company
as far as its investments are concerned. He added that the company
sees the global crisis as a good opportunity to invest in companies,
which are available at good valuations.
On being asked if the Satyam episode will deter the company's plans
in any way, he said, "It shouldn't. Don't single out India for
that. What about Madoff in the US? You have scams and scandals
everywhere."
The three-month old, Global Talent Track (GTT) has IT industry
stalwarts such has Nasscom chairman Ganesh Natarajan and former
president of Nasscom, Kiran Karnik, on its advisory board. Intel's
investment in GTT is co-led by Helion Venture Partners.
"Our first centre will come up in Pune by March this year,"
said Uma Ganesh, founder of GTT, which is yet to begin operations.
On the other hand, One97 communications is hoping to clock revenues
of $25 million this fiscal. "We have a revenue target of $100
million by 2010," said Vijay Shekhar Sharma, founder and MD of
the company, adding that it plans to invest $20 million upwards in
system infrastructure next year.
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