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Intel says that it plans to spin off its corporate venture arm, Intel Capital, into a standalone fund, with Intel as an “anchor investor.”
In a press release on Tuesday, Intel said that the move will “[enable] greater autonomy” and “the flexibility to attract external capital.”
“The separation of Intel Capital is a win-win scenario as it provides the fund with access to new sources of capital to expand its franchise while allowing both companies to continue benefiting from a productive long-term strategic partnership,” David Zisner, Intel’s co-chief executive officer and chief financial officer, said in a statement. “This step supports our broader strategy to maximize the value of our assets while driving greater focus and efficiency across the business.”
This story is developing and will be updated.
Kyle Wiggers is a senior reporter at TechCrunch with a special interest in artificial intelligence. His writing has appeared in VentureBeat and Digital Trends, as well as a range of gadget blogs including Android Police, Android Authority, Droid-Life, and XDA-Developers. He lives in Brooklyn with his partner, a piano educator, and dabbles in piano himself. occasionally — if mostly unsuccessfully.
