Bloomberg Business is reporting that Intel plans to sell up to $1 billion of its venture capital unit and will consolidate the organization.
“Since its start in 1991, Intel Capital has invested about $11.6 billion in more than 1,440 companies in 57 countries across a range of sectors including security, wearable technology and digital media, according to the company’s website. Last year, the unit invested $514 million in 143 companies, split almost evenly between new ventures and follow-on investments,” according to the report.
Bloomberg further stated that Intel (NASDAQ: INTC) is open to “selling the assets as a whole or divided by geography or sector focus.” It will be interesting to see how this plays out.