Intel Capital president Arvind Sodhani to retire
Arvind Sodhani, the Indian origin executive who has been president of Intel's corporate venture capital arm Intel Capital since 2005, will retire in January, ending a 34-year career with parent company Intel.
The chip maker's venture capital operations after Sodhani's departure would be headed by Wendell Brooks, who would also continue to serve as president of Intel's M&As, The Wall Street Journal reported.
Sodhani, who has a master's degree in business administration from the University of Michigan, joined Intel in 1981 as assistant treasurer of Intel Europe. He was named as Intel's treasurer in July 1988. In this role, Sodhani was responsible for treasury, investor relations, corporate credit, mergers and acquisitions, post contracts management and risk management.
Intel Capital invests around $300-500 million each year across two dozen markets. It has been a prolific investor in India too with close to 10 deals each (including follow-on investments in existing portfolio firms) in the past few years, according to VCCEdge, the data research platform of VCCircle.
However, it has been exceptionally slow in adding to its Indian portfolio this year. It has just committed more money to existing portfolio company NxtGen Datacenter this year.
Last year it exited from a portfolio firm as Tribune Company Inc acquired Mumbai based What's On India Media Ltd.