Intel Capital announced investments in Beijing Cloud Union and Fashion Republic. Both investments come from the Intel Capital China Technology Fund II.
Cloud Union focuses on the design, development and operation of cloud gaming platforms and is a live cloud and steaming service provider for 3D graphic and rich audio gaming in China. Fashion Republic is one of China’s first fashion photo search engines and fashion content aggregation platforms. The community scans quality-guaranteed fashion business websites in China and helps users identify products and trends through photo galleries. The two companies will use the investments for product development and market expansion.
Ian Yang (President, Intel China): China has a huge consumer base. As more and more computing devices connect to the Internet, the ability to provide end users with innovative and unique experiences will be the key to the success in this market.
As one of the first investment organizations to enter China, Intel Capital’s strategy is to invest in cultivating local technological innovation. Led by managing director Richard Hsu, Intel Capital in China has six investment directors with Helen Chiu and Chris Pu in Beijing, Rao Hong and Sun XiaoGuang in Shanghai, Tony Kwan in Hong Kong and Christine Wu in Xiamen. Rao Hong and Chris Pu are the deal managers of Cloud Union and Fashion Republic, respectively.
Since its first investment in China in 1998, Intel Capital has invested approximately US$650 million in over 100 Chinese companies. In 2011, Intel Capital invested over $90 million in 13 Chinese companies.