- Intel Capital announced the Intel Capital Diversity Fund – the largest of its kind – to invest $125 million in businesses led by women and underrepresented minorities.
- The fund launches with investments in four companies – Brit + Co*, CareCloud*, Mark One*, and Venafi* – across a wide spectrum of industries, including the Internet of Things, the maker movement, cloud computing and cybersecurity.
- Fund will complement Intel's $300 million Diversity in Technology Initiative, announced in January, which aims for the company to reach full representation of women and underrepresented minorities in its U.S. workforce by 2020.
SANTA CLARA, Calif., June 9, 2015 – Intel Capital, Intel Corporation's global investment organization, today announced the Intel Capital Diversity Fund, which will invest in technology startups run by women and underrepresented minorities. Also unveiled were the fund's first investments in four companies led by inspiring trailblazers. The largest of its kind, the fund totals approximately $125 million, and investments will cover a broad spectrum of innovative industries.
"We believe that a diverse and inclusive workplace is fundamental to delivering business results," said Intel CEO Brian Krzanich. "Our goal with this new fund is to meaningfully support a technology startup workforce more reflective of society, and ultimately to benefit Intel and the broader economy through its success."
Today's news follows the January announcement of Intel's Diversity in Technology initiative, designed to encourage more diversity at Intel and within the technology industry at large. Intel has declared its intent to achieve full representation of women and underrepresented minorities in its U.S. workforce by 2020.
"We are proud to take a leading role toward broader participation in technology entrepreneurship and employment," said Lisa M. Lambert, managing director and vice president of Intel Capital, who is leading the Intel Capital Diversity Fund. "With this new fund, Intel Capital is committed to investing in the best talent from a myriad of backgrounds to cultivate brilliant innovations that serve the needs of a diverse public."
Only 15 percent of venture capital-funded companies in the United States have a woman on the executive team, according to a recent Babson College report, and companies with a woman CEO receive only 3 percent of total venture capital dollars.1
Furthermore, less than 1 percent of the founders of Silicon Valley companies are African American or Latino; nearly 100 percent of funded founders are white or Asian, according to industry surveys.2
The Intel Capital Diversity Fund launches with investments in four companies, which will gain access to Intel Capital's business development programs, global network, technology expertise and brand capital.
- Brit + Co* (San Francisco) unlocks creativity by educating, inspiring and supporting women and girls. A media and e-commerce platform, its online classes and all-in-one kits let makers learn everything from calligraphy to building gadgets with Intel Galileo boards.
- CareCloud* (Miami) is the leading provider of cloud-based practice management, electronic health record (EHR), and medical billing software and services for medical groups. Intel and CareCloud have jointly authored a whitepaper on cloud computing in healthcare.
- Mark One* (San Francisco) uses the Intel® Curie™ hardware module to create a smart cup that automatically recognizes any beverage its user pours into it, displays its nutritional content, and syncs all drinking habits to the user's smartphone.
- Venafi* (Salt Lake City) is the Immune System for the Internet™. Venafi protects the foundational element of all cybersecurity—cryptographic keys and digital certificates—so they can't be misused. Venafi constantly assesses which keys and certificates are trusted, protects those that should be trusted, and fixes or blocks those that are not. With Venafi's key and certificate security solution, Intel can continue to bring market-leading security and datacenter technology to market.
For more information about the Intel Capital Diversity Fund, please visit www.intelcapital.com.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11.4 billion in over 1,400 companies in 57 countries. In that timeframe, 211 portfolio companies have gone public on various exchanges around the world, and 369 were acquired or participated in a merger. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world's computing devices. As a leader in corporate responsibility and sustainability, Intel also manufactures the world's first commercially available "conflict-free" microprocessors. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com and about Intel's conflict-free efforts at conflictfree.intel.com.
Intel, the Intel logo and Curie are trademarks of Intel Corporation in the United States and other countries.
*Other names and brands may be claimed as the property of others.
1 Babson College Diana Report, Women Entrepreneurs 2014: Bridging the Gender Gap in Venture Capital, September 2014.
2 CB Insights, Venture Capital Human Capital Report, January-June 2010.