Intel will spin off its venture capital unit as the troubled US chipmaker seeks to cut costs and faces more scrutiny over its investments in China.
Intel said on Tuesday it would separate Intel Capital, a prominent Silicon Valley investor that has ploughed more than $20bn into about 1,800 companies since it launched in 1990, into a new, standalone fund.
The move would bring Intel Capital’s corporate structure “into alignment with other leading venture firms”, the company said. Intel would remain an anchor investor in the new venture fund, which would begin operations under a new name in the second half of the year, it said.
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