Intel Capital sold its final 2.29% stake in Persistent held by its $250m Intel 64 Fund for R36.21 crore ($8.1m), according to news provider VCCircle estimates.
Intel Capital, the corporate venturing unit of semiconductor maker Intel, has sold its remaining shares in India-based Persistent Systems at a reported six times profit.
Intel Capital sold its final 2.29% stake in Persistent held by its $250m Intel 64 Fund for R36.21 crore ($8.1m), according to news provider VCCircle estimates.
In April 2000, Intel invested $1m in Persistent through the Intel 64 Fund, which was set up the year before and included computer maker Hewlett-Packard as a limited partner before the fund was subsequently liquidated and shares divided among its investors.
Last year, Persistant raised R167 crore in its Bombay Stock Exchange flotation.
