Intel Follows Rest Of Tech World, Shovels Money Into China (INTC)

Intel’s VC unit, Intel Capital has set up a $500 million fund in China. Join the club! Plenty of tech powerhouses are setting up shop in the mainland, and Cisco (CSCO) had already plowed $700 million into 30 Chinese startups by the end of 2006.

Don’t forget the VCs themselves. Last year, $2.49 billion of VC money went to 241 deals in China – the highest level since 2001. And 110 of those deals and $992 million were for IT companies, according to Dow Jones VentureSource.

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