Intel Capital Launches $100M AppUp Fund

Intel Capital said Tuesday it created a $100 million AppUp Fund to support applications and infrastructure for its AppUp Center.

The chipmaker’s venture capital arm made the announcement at its Global Summit in Huntington Beach, Calif., where 225 portfolio companies and 800 executives are gathered for a networking event.

Along with unveiling the new fund, Intel Capital announced its first two fund investments: the mobile marketing platform company Urban Airship and the German devices operating system developer 4tiitoo.

The fund fits tightly with the Intel’s theme of promoting the spread of connected mobile devices. It will invest in companies producing infrastructure, middleware, digital content and AppUp Center applications. The center supports applications that run on Windows, Android and other operating platforms.

Intel Capital’s investment in Urban Airship joins a $15.1 million Series C round that includes Salesforce.com, Verizon, Foundry Group and True Ventures.

Speaking at the Global Summit, Intel Capital President Arvind Sodhani offered an update on Intel Capital’s 2011 performance. According to Sodhani, the organization has:

  • Invested $472 million to date in 2011 and expects to reach $500 million;
  • Made 72 investments;
  • Done 38 deals outside North America;
  • Invested 47% of its dollars outside North America;
  • Had 6 porfolio company IPOs; and
  • Had 25 portfolio company M&A exits.

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