Intel Capital Expands the Investments for the Israeli Offices
Intel Capital — Phoenix Arizona, the venture capital arm of US semiconductor giant Intel Corp., announced that the Israeli team will be further invested. In the aim of growing Israeli startups and companies. During 2018, Intel Capital invested USD 180 million in fourteen Israeli companies and plans to keep up its investment pace of the past few years. This is out of a total of 95 deals Intel engaged in last year to the tune of nearly $400 million in overall investments. Intel Capital said the Israel team would continue scouting for companies in all stages, with a focus on earlier stage startups. In addition, Intel Capital announced that it has taken part in a USD 35 million financing round for Israeli start-up ProteanTecs, which develops tools to predict failures in electronics.
The announcement came as Intel Capital held its annual Global Summit conference in Phoenix, Arizona — now in its 19th year — welcoming some 600 entrepreneurs, venture investors, business leaders, and Intel executives for the three-day event focused on the chipmaker giant’s achievements and future prospects. A number of senior officials from Intel’s portfolio companies in Israel attended the summit, including from transportation data startup Moovit (in which Intel led a $50 million investment), AI processor developer Habana Labs ($75 million), and gaming tech startup Overwolf ($16 million).
Intel Capital said that it is expanding its team in Tel Aviv, Globes reported. It said Roi Bar-Kat and Noam Kaiser are joining Yair Shoham as partners and investment directors, it has promoted Adi Caspi Zepkowitz to associate and has recruited Shira Vissoker as a business analyst.
Shoham, the Intel Capital Israel investment director, said the decision to expand local team was driven by the importance the fund sees in Israeli entrepreneurs and innovation. He said the new team will invest in companies in rounds A and above. While keeping in touch with entrepreneurs in earlier stages to help companies find their path early on.
