FILE PHOTO: Figurines with computers and smartphones are seen in front of Intel logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File photo
(Reuters) - Chipmaker Intel Corp said on Tuesday that it will separate its venture capital and investment arm, Intel Capital, into a standalone company, to focus on enhancing efficiency across the business.
Intel, which will remain an anchor investor, said the standalone operations are expected to begin in the second half of 2025 and will have a new name. The existing Intel Capital team will move to the new company.
Intel Capital's separation 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," said David Zinsner, Intel's interim co-chief executive officer and CFO.
Established in 1991, Intel Capital has over $5 billion in assets under management and invests in companies across four areas of the tech ecosystem: silicon, frontier, devices and cloud.
Earlier today, identity security startup Orchid Security said it had raised $36 million in an early-stage funding round led by Intel Capital and Team8.
(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
