Intel Capital has announced major investments in three Chinese companies.

The Intel branch has reportedly invested a hefty $20 million in Trony Solar Holdings. It has also purchased stakes in NP Holdings, a company that specialises in electricity storage, and Viewhigh, a healthcare software firm.

According to Cadol Cheung of Intel Capital, the recently-established $500 million China technology fund has already invested in six mainland companies.

"We think innovation is the way to help companies out of this financial crisis. We have no plan of slowing down our investment pace. In this environment, companies will revert back to existing investors more, because it is more difficult to get external financing," explained Cheung.

Intel Capital, which recorded a $2.3 billion portfolio in June 2008, made less than five per cent of its investments outside the US in 1998. However, offshore investments had risen to 37 per cent by 2007.

At least a third of Intel Capital's total investment is located in Asia, particularly in China, Taiwan and Korea. X

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Reuters