Intel sets up $500m fund

Intel Corp's venture investment arm created a $500 million fund yesterday to invest in China's technology start-ups, in a fresh move to expand in the country's booming hi-tech sector.

Intel Capital, which manages the new fund, will explore financially attractive and strategic investment opportunities in areas such as wireless broadband, technology, media, telecommunications and "clean tech", said Arvind Sodhani, the unit's president.

The fund is now the largest country-focused one for Intel Capital. To be fully invested in five to seven years, it is aimed at bringing a 20 percent return annually, company officials said, citing its previous investment record in China.