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Intel Capital, already an active investor overseas, has created a new $500 million fund devoted to Chinese startups, more than doubling the $200 million fund it first set aside for investment in the country three years ago.
Money from the fund has already gone to Holdfast Online Technology and Newauto Video Technology, two startups that handle console game hosting and television equipment sales, respectively. The first fund was doled out to almost 30 companies.
Intel will aim investments from the new fund toward wireless broadband, technology, media, telecommunications and cleantech, according to the company’s press release.
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