
After taking over as president of Intel Capital in 2003,
John Miner was faced with the task of redefining the chip giant's role in an environment where its deep pockets could make things happen for startup companies when traditional venture firms were reluctant. He stated early on that the fund would not hesitate to use its enormous financial resources to go into deals alone, and during the VC drought over the next two years he lived up to that promise.
Upon
leaving Intel in 2005, Miner said he wanted to pursue things on his own, and now the
The Oregonian reports that he has returned at the other end of the spectrum. Miner has teamed up with Bill Campbell, a longtime venture and technology partner with Ater Wynne LLP in Portland, to form Altien Investors, raising a very modest $2 million from individual investors to sink into analog chipmaker Avnera Corp. They'll also begin raising new funds and developing a record of returns to take to potential institutional limited partners.
Campbell told
PEHub he'd wanted to form a venture fund for some time and had approached Miner about getting backing from Intel a few years ago, but the chipmaker only makes direct investments. He said Altien will form a second fund to make additional investments before returning to institutions for a third fund.
Altien hopes to work closely with Intel, which is the largest employer in Oregon, to focus on investments in the area, which has a strong technology base of semiconductor and software companies.
- Clifford CarlsenSee
May 2005 story from Corporate DealmakerSee July 2003 story from The Deal magazineSee Sept. 4 post from The Oregonian's Silicon Forest blog
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