News: Several Intel Capital employees are expected to be transferred with portfolio.
Investment companies such as Coller Capital, HarbourVest Partners and Lexington Partners have shown interest in the venture capital portfolio assets Intel has put up for sale.
Citing people familiar with the matter, Bloomberg reported that the investment firms are among companies that have requested data on the assets, which have a combined valuation of approximately $1bn.
Coller, HarbourVest and Lexington acquire portfolios of companies, known as secondary direct deals.
Intel is reportedly working with UBS Group to divest part of the portfolio, which includes small- and mid-cap companies across the world.
As per the plans, several of the unit’s employees will be transferred to the new owner in order to not to disrupt the portfolio management.
Initial-round bids are anticipated by June, and one buyer will likely purchase all of the assets instead of dividing them by geography or business line.
Since 1991, Intel Capital invested over $11.7bn in more than 1,445 companies in 57 countries.
The company said 212 portfolio firms have gone public on several exchanges globally and more than 383 were acquired or participated in a merger.
Intel Capital works with companies of every size across a range of technologies and invests in developers and providers of hardware, software, and services in several sectors.
The company recently participated in a $28m Series B funding for CoreOS, a company dedicated to enhance the security and reliability of the internet.
Earlier this month, Intel sold $2.75bn worth of bonds to refinance existing debt and a portion of notes that are due to mature in 2017.
The company is shifting its focus to cloud in order to address the decline in the personal-computer market and its failure to capitalise on the switch to smartphones.
As part of its changing focus, Intel is planning to cut 12,000 jobs, which equates to 11% of its workforce.
The company hopes to save $750m this year, with annual run-rate savings of $1.4bn by mid-2017.