Intel confirms $250 mln venture fund
May 10, 1999 12:35 PM
SANTA CLARA, Calif., May 10 (Reuters) - Computer chip giant Intel Corp. on Monday confirmed it was forming a $250 million fund to invest in technology companies.
Compaq Computer Corp. CPQ , Dell Computer Corp. DELL and Hewlett-Packard were among the co-investors in the fund, which would focus on encouraging the development of Internet and enterprise applications, Intel said.
"The Intel 64 Fund represents input and investment from an industry cross-section, which will help focus the development of next-generation e-commerce and Internet solutions," John Miner, general manager of Intel's Enterprise Server Group, said in a statement.
The fund would also invest in companies developing software applications for Internet infrastructure, design automation, and financial services, Intel said.
Other investors in the fund included NEC , Bank of America BAC , Circuit City CC and Ford Motor Co. F and General Electric GE , Intel said.
((Los Angeles newsroom, 213-380-2014)) REUTERS
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