By Joan Bennett

Intel Capital, Intel’s global investment and M&A organization, unveiled a $100 million Intel Capital AppUp Fund. The fund will invest in software tools and services companies developing innovative applications and digital content for the mobile and PC ecosystem.

The initial two investments include Urban Airship, a mobile platform-as-a-service company and 4tiitoo, a German OSV and tablet device developer. The announcement was made at the 12th annual Intel Capital Global Summit.

The Intel Capital AppUp Fund will invest in companies producing infrastructure, middleware, innovative applications and digital content across the continuum of connected devices in application developer-centric equity deals all over the world.

The fund is built to advance computing innovations based on Intel architecture in key areas such as digital media consumption, context-aware computing and infrastructure applications. While the investments will focus across multiple technologies and devices, key areas include cross-platform technologies such as HTML5, as well as experiences designed specifically for Ultrabooks.

Arvind Sodhani (President, Intel Capital; Executive vice president, Intel):  The Intel Capital AppUp Fund will help encourage the creation of companies interested in delivering or enabling applications that enhance and extend the online experience for the 15 billion devices expected to be connected by 2015.

The Intel Capital AppUp Fund compliments other Intel efforts intended to help enrich the lives of people at home, at work and on-the-go. These efforts include the $300 million Intel Capital Ultrabook Fund.

Intel Capital, Intel’s global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Since 1991, Intel Capital has invested more than US$10.4 billion in over 1,185 companies in 51 countries. In that timeframe, 194 portfolio companies have gone public on various exchanges around the world and 286 were acquired or participated in a merger. In 2010, Intel Capital invested $327 million in 119 investments with approximately 44 percent of funds invested outside the U.S. and Canada.