Intel To Launch $3.5 Billion Fund (INTC, GOOG, MSFT)
Intel Corp.(NASDAQ: INTC) is planning to create a new investment fund for boosting investments in U.S. technology companies over the next two years. Intel (INTC) is likely to create a coalition with venture capital firms. So far, 24 venture capital firms have joined the alliance dubbed the “Invest in America Alliance”. The alliance is dedicated to provide funds to information technology, clean technology and biotechnology firms.
Intel’s investment arm, Intel Capital, has committed an additional $200 million to the fund. Intel chief executive officer Paul Otellini said that the fund is dedicated to “steer investments into technologies that will derive economic growth and job creation in the United States”. He also said that major tech companies including Google (NASDAQ: GOOG) and Microsoft (NASDAQ; MSFT) have agreed to increase their college graduate hiring in 2010.
