Intel Capital will invest in three Chinese companies including its first cleantech investments in the country.
The venture capital wing of semiconductor giant Intel has invested $20 million in thin film solar company Trony Solar Holdings. Trony will use the capital to increase production as well as research and development.
In July, Intel co-led an €85 million venture funding round for German solar cell manufacturer Sulfercell alongside London-based Climate Change Capital.
Intel also agreed to invest an undisclosed amount into technology company NP Holdings, which produces electricity systems.
Both NP and Trony are cleantech companies that Intel says will decrease dependency on carbon-based energy generation.
Intel’s third agreed investment in China is in healthcare-focused software company Viewhigh. No financial details were available.
The group closed its second China technology fund on $500 million in April this year targeting investments in media, technology, telecommunications, wireless broadband and clean technology. Its $200 million predecessor fund was established in 2005.
Intel’s China team last month lost executives John Hsin and Kuantai Yeh to US venture firm Highland Partners. The pair are now based in Highland’s Shanghai office.
Intel has invested more than $7.5 billion across 45 countries since its founding in 1991. The company also manages other region-specific funds focused on the Middle East and Turkey, India and Brazil.