Independent rating of Intel Capital VC fund
Overall rating:
4.0
(29)
Recommend to another founder: 80%
About Intel Capital VC fund
Website:
Founded:
1991
Number of investments:
1488
Number of exits:
456
Headquarters:
Organization type:
Corporate Venture Capital, Venture Capital
How Intel Capital VC fund invests
Rounds:
Average ticket size:
15.4M USD
Biggest investment:
28.6M USD
Would lead round:
Yes
Would coinvest:
Yes
Countries where invested:
Sectors of interest:
Software, Internet, Information Technology, Electronics, Artificial Intelligence, eSports, Video Games, Sensor, Semiconductor, SaaS, Retail Technology, Personalization, PC Games, Open Source, Manufacturing, Machine Learning, Insurance, InsurTech, Information Services, Industrial Automation, Hardware, Gaming, Financial Services, Finance, FinTech, E-Commerce, Document Management, Developer Platform, Cyber Security, Customer Service, Computer Vision, Cloud Computing, Business Development, Brand Marketing, Big Data, Autonomous Vehicles, Automotive, Apps
Founders' reviews of Intel Capital VC fund
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Older than a year by non-portfolio founder
Great global name
I'd recommend them because I think they are respected and well connected. They have plenty of green and can help their portfolio companies, and have other motivations beyond instant profit which isn't always a bad thing. The name also helps with getting new clients. But you need to align with their current business goals and get a great partner who will go to bat for you.
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Older than a year by non-portfolio founder
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Good Experience
I met Ken Elefant at an event in the Valley, then developed a relationship and came in to meet an investment committee. Our business has a fit with (and dependencies on) Intel, so some of the intros that Ken provided have been useful to us. They picked up what we were doing quickly, and generally it was a good experience. The decision process was quick and easy to understand. The discussion on terms was refreshingly direct and straight forwards.
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Older than a year by non-portfolio founder
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Good Experience From Pitch to Close
When started first to discuss with Intel Capital, I was skeptical. Concerns about being "too corporate", "difficult to negotiate with and close" etc were some inputs I received.
I was pleasantly surprised.
The Director assigned to us was top notch. He got the business and opportunity quickly and was able to connect with appropriate parties in Intel Corporate quickly to get feedback and assess possible business synergy.
Negotiation was professional, reasonable and timely. No "playing games" or "corporate stuff". Main somewhat unique requirement was an Observer seat on the board, which was ok with us.
Deal terms were fair. From several term sheets provided by other firms, Intel's was not the best but above the median.
We ended up closing with them on the round - due to combination of the individual director assigned, the fair terms and the brand/strategic value (which was important to our security related business).
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Older than a year by non-portfolio founder
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Weak Partner Failed to Deliver
I've been lucky to raise money from some of the best, but have also had my deals passed on by many excellent people: as long as people pass politely, an entrepreneur should have no hard feelings.
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Very Corporate. Not Founder Friendly. No Value Add.
The only founders/CEO's who take money from Intel Capital are the ones that can't get investment anywhere else in Silicon Valley. It's a very bad signal to take money from IC.
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Good Relationship
Intel Capital invested in my company’s Series B financing in 2007, which was our final round of funding. They remained an investor through our M&A exit in 2011. We found the efficiency of the pitch process with them to be on par with other venture investors. In the term sheet and definitive legal documentation, Intel insists on certain provision that other VCs would not require, but that did not prove to be a problem in closing the financing or at any point thereafter.
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Quick and Direct Response
Got an introduction to Andrew Fligel. They could not meet me during my visit to the west coast, but quickly set up a call. I pitched Andrew Fligel and Dharmesh Thakker over the phone. Asked good insightful questions.
Came back with a quick 'no' the following week explaining that the valuation was too high for them. Following my request, Andrew was kind enough to give me his insights on the range of valuations in the marketplace today.
Overall good experience. Wish all VCs would know how to give a quick 'no', vs a slow 'maybe'.
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Older than a year by non-portfolio founder
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Phone Pitch
Had a decent call with Dylan Steeg. He was polite and attentive, offered good insight and asked meaningful questions. I think they had a somewhat skewed idea of our model (not necessarily their fault), but were professional enough to be open and let us down with respect.
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Older than a year by non-portfolio founder
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CEO/Founder, Thrown Out One Bod Meeting After Closing Intel B Round
Be warned fellow founders. Eghosa Omoigui of Intel Capital lead the B round in my company, where I was founder/CEO
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Nice Work if You Can Get It.
Intel can be awesome as backers IF, you are the right sort of investment, understand how they operate and what they are in it for, you treat them right and do not rely on them to do all the work This has certainly been my observation in Europe where, whilst historically they have had the sort of reputation that all large corporate venturers have had, they have a VERY loyal following on entrepreneurs. If you have not had VC backing before, you might not be the right sort of company for them.
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We've Been Approached by Intel Capital....Any Suggestions?
Intel Capital has contacted us. After looking over their investments, it's clear they are serious about our market space. We are pre-revenue.
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Helpful as Investors in Non Standard Ways
Intel Capital has its issues, specifically the feeling that anything they learn while attending your board meetings is taken right back to Intel and disseminated. They do not take board seats so they do not have any fiduciary responsibility per say.
Recommend to another founder 80%
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Quick Response
Was introduced to Marcos Battisti by the fund manager of our existing VC. We received a 'No' on the basis that our target market is very competative and we need to demonstrate performance agianst the competition. Was left with an invite to approach ICAP again on the next round. Disappointing outcome but I much appreciate the speed of response and straight answer.
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Money but Without Direction
The feeling is that they are throwing money around to see what sticks. I had a positive experience with the east coast rep, who was good about working with us as we pulled the deal together.
It was hands-off after that - no real value.
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Waste of Time, with a Caveat
Caveat: I understand Intel has almost entirely rebuilt their VC team since we dealt with them last year. You should consider these comments in that context.
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Quick Response
Was introduced to Marcos Battisti by the fund manager of our existing VC. We received a 'No' on the basis that our target market is very competative and we need to demonstrate performance agianst the competition. Was left with an invite to approach ICAP again on the next round. Disappointing outcome but I much appreciate the speed of response and straight answer.
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Scheduling Issues....
We had a solid referral into Intel Cap. It took three weeks for the assistant to get around to scheduling the meeting. Then she sends us an email the morning of the meeting canceling because she couldn't assemble the right people. Next meeting, three weeks out was canceled the night before. This time we had people flying back from biz dev trips because they had a whole team attending and wanted to meet all of us. Needless to say, while they said they wanted to reschedule we passed.
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The Intel Capital Team and Process Has Improved a Lot!
I have worked with Intel Capital many times over the years through many start-ups. In the past, I found their terms difficult to work with and felt that I wasted a lot of time meeting with them. My impression of them has improved dramatically in the last year ot two. I have met with many Intel team members and they recently invested in one of my companies.
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Wasted a Lot of Our Time
We were initially contacted by the fund from an acquaintance. After a 30 minute phone call we heard nothing for a month, after which they decided to meet with us. Showed up for what turned out to be a good meeting, thoughtful questions and demonstrated they understood our space. After the meeting silence again for another month .... then a phone call saying they can't find anyone "with the appetite to perform due diligence on us"!"! Nice guys but a complete waste of time. Yes is yes, no is no, but a long delay to tell us that is unforgivable.
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Good Intentions, Bad Execution
I should say that I really like the people that we met at Intel Capital. They are very bright and pleasant to work with but ultimately it is the outcome of the experience that counts.
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Make Sure You Have Another Lead Investor
IC usually invests with a leading VC. They don't usually lead. In our case, they made an exception and led our post-angel rounds. They did put some structure into the company (monthly board meetings and so on) but at a big operating cost (i.e. lot's of focus on preparing board meetings and not on the business).
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Tough to Navigate
A real mixed bag. Very difficult to negotiate with, lack of focus, and not very insightful about what it takes to operate a business. On the bright side, they can come through with great introductions. The challenge, if you decide to and are able to close the investment, is to manage them in the direction you need.
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My Way, or the Highway
Intel has very particular deal requirements as a strategic investor. This will likely create more legal, administrative, and deal headaches, so the value better be worth it.
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Helpful Even When Not Their Focus
Steeg saw our opportunity. He was very straightforward that it was not a focus of Intel, but he himself thought it was an interesting opportunity.
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No Time Wasting
We did a couple of pitches to two of London partners. After a call with the US we were quickly told that we were too early for them, but that they liked the pitch. No time wasting.
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Unethical and Poor Character
Initially I thought it was only our company, but another hardware startup like us experienced the same thing. They ask for your business plan and hear your pitch, and then you find out that they already committed to funding your competitor! Obviously, they were gathering intelligence for their portfolio company. The RIGHT THING would have been to disclose or decline the meeting.
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Difficult to Work With
A lot of venture firms have negative things to say about Intel's ability to add value. I've not found this to be the case, they can and will help you. However, they have an approach that isn't well suited for early stage companies. Save them for the later rounds.
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Awesome Assistance, Many Partners
Intel, as an organization, works with everyone, so they have an amazing ability to help start-ups. They also have a large amount of capital to invest and many partners managing that capital. It all depends on who you get to be your representative...
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Save Them for a Late Round...
Agree they can be helpful but it really depends on the individual you get. Do expect unusual terms, though. Ask them to explain their expectations up front to avoid surprises. As with any strategic investor, save them for a later round.