"With the establishment of the Intel Capital China Technology Fund, Intel plans to stimulate local technological innovation and the continued growth of China's IT industry. We will invest in Chinese companies to accelerate technology adoption locally and to foster development of innovative technologies with potential for global distribution."The fund will invest in technology companies that develop hardware, software and services. Intel Capital, which has investment managers based in Hong Kong, Shanghai and Beijing, made its first strategic investment China in 1998 and since then has invested about 50 Chinese companies across nine cities in mainland China and Hong Kong. Eleven of these companies have since gone public or have been acquired, including AsiaInfo Holdings Inc., Chinacast Communications Holding Ltd., Sohu.com, Techfaith Holdings Ltd., and UTStarcom Inc..