Intel in the Driver’s Seat
Intel (NASDAQ:INTC) has launched the Intel Capital Connected Car Fund, a $100 million fund to invest in technology innovation in the automotive industry. The corporate venture fund will primarily be focused on investing in technologies that will deliver in-vehicle information, mobile connectivity, driver assistance systems, and other car-focused applications.
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The fund is planning to invest over the next four or five years, and is looking to help privately-held companies across the technology spectrum, including hardware, software, and service companies. Intel, currently the world’s largest chip maker, is looking to push its own technology into the automotive industry.
The Intel Capital investment portfolio is valued at around $2.179 billion, and includes the tablet technology fund, country-specific funds, and technology specific funds.
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