Intel Capital, has created a new $500 million fund for Chinese startups which more than doubles the initial fund of $200 million they first set aside three years ago with the first fund being given to almost 30 companies.

The aim of the investments will be for wireless broadband, technology, media, telecommunications and cleantech. You can read the press release here.

The money which has been provided by the fund has already gone to Holdfast Online Technology and Newauto Video Technology whom are two startups which handle console game hosting and television equipment sales.

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