The venture capital arm of giant computer chip maker Intel is again casting its eye over New Zealand's tech hopefuls, carrying out due diligence on two companies.
Intel's US$1.3 billion ($2.5 billion) investment portfolio makes it one of the biggest tech investors in the world.
New Zealand companiesare yet to get a slice of the pie, although the likes of Virtual Spectator drew the attention of Intel in the past.
Australia has been more successful in attracting Intel money.
Nine investments have been made, mostly in software businesses.
The director of strategic investment for Intel Capital Australia and New Zealand, Steven Duvall, was tight-lipped on which two companies Intel was interested in here.
But on his second trip here this year, hosted by Investment New Zealand, he said he had talked to graphics software developer Right Hemisphere, Christchurch-based research firm Applied Research Associates and Hamilton data mining software specialist Reel Two.
Wireless hotspot operator RoamAD had also attracted the intention of Intel, which wants to incorporate wireless technology into its computer processor chips.
Intel generally invests US$3 million to US$5 million in a company, partnering with local venture capital firms to form an investment consortium.
Intel does not take a seat on the boards of the companies it invests in but has "board observer" status which allows it to keep tabs on progress.
Duvall said investment in this part of the world had slowed down this year but was beginning to pick up again.
"It's taken a lot longer to close deals, but it's a fantastic time to invest. Research and development doesn't stop because the economy is in a hole."
The goal of Intel Capital is essentially self-interested - helping companies develop hardware and software that will allow Intel to sell more chips, from server and desktop models through to networking and wireless.
"It exists to help Intel grow its business; the microprocessor by itself is not very useful," said Duvall.
There was scope to work on technology projects with the country's universities if Intel Capital could partner at an early stage.
