Intel makes its first investments from new India fund

Intel Capital has put money from a new $250 million venture fund targeted at India companies into Mobiapps, Persistent Systems and Maya Entertainment.

Although Intel has invested in Indian companies before, the new fund will be restricted to investing in companies in the country. Intel Capital, which in the past few years has become one of the biggest VCs in the industry, tries to earn a return on its investments, but the group's main goal is to foster the development of various markets. Last month, Intel Capital, for instance, formed a fund targeting companies in the Middle East. Other funds have tried to invest in start-ups that would promote Itanium or other Intel technologies.

In India, the latest trend is for companies to break out of outsourcing and create products for the domestic market or export Mobiapps provides wireless and satellite communications while Maya provides visual effects for film studios. Maya is located in Mumbai, the heart of Bollywood. Persistent is an outsourcing company.