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Intel Capital

Firm Rating:

Rated 2.8 / 5.0 by 38
Track
Record
2.8
Operating
Competence
2.8
Pitching
Efficiency
2.4
Favorable
Deal Terms
2.9
Execution
Assistance
3.0

Firm Homepage:

FIRM OVERVIEW: N/A Private VC founded in 1999 based out of Santa Clara, United States (US West)

TEAM MEMBERS: Arvind Sodhani, Bryan Wolf, Christine Herron, David P Flanagan, Keith Larson, Ken Elefant, Lisa Lambert, Mike Buckley,

2
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2
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Good Experience

Fund: Intel Capital

Posted by justin143143 on 2014-01-28

PUBLIC:

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.

In the end, Intel Capital passed on investing in our round for now, but gave easily comprehensible reasons why (essentially we were too early and they wanted to see 3-4 larger commercial companies paying us $200K+ per year). Compared to other conversations with VCs, the thought process was more transparent, which I liked.

I plan to go back Intel Capital as we meet the criteria they set.

PRIVATE: Members Only (745 Characters)

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1
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Good Experience From Pitch to Close

Fund: Intel Capital

Posted by SecurityEntrepreneur on 2013-12-09

PUBLIC:

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).

A year+ into the relationship, ongoing work with the Intel rep is very well. We received several good introductions to Intel business partners for business development as well as multiple strong referrals to executive candidates for positions we were looking for. Reasonable oversight via board observer seat as well as very good sounding board as we discuss strategy.

Overall - very happy with the decision to partner with Intel Capital.

PRIVATE: Members Only (95 Characters)

2
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Weak Partner Failed to Deliver

Fund: Intel Capital

Posted by Anonymous on 2013-06-27

PUBLIC:

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.

But Intel Capital gave me the worst experience of ~50 firms I've pitched to over several successful capital raises (and a few unsuccessful ones).

PRIVATE: Members Only (985 Characters)

7
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Very Corporate. Not Founder Friendly. No Value Add.

Fund: Intel Capital

Posted by Anonymous on 2013-04-08

PUBLIC:

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.

They have no entrepreneurs making investments, because real entrepreneurs will not work with them.

PRIVATE: Members Only (208 Characters)

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Good Relationship

Fund: Intel Capital

Posted by Frequent Traveler on 2012-03-19

PUBLIC:

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.

As has been mentioned below, Intel does not take board seats, but they did attend almost all of our board meetings. Their input, both in and out of board meetings, was usually constructive.

Intel makes substantial effort to help their portfolio companies with introductions to prospective customers and partners. I think they do a very good job with this – almost certainly better than anything any other VC could do thanks to Intel’s worldwide reach. That can be a real benefit for a venture-backed company seeking to reach out to large public companies.

PRIVATE: Members Only (450 Characters)

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Quick and Direct Response

Fund: Intel Capital

Posted by Anonymous on 2011-07-08

PUBLIC:

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'.

PRIVATE: Members Only

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Phone Pitch

Fund: Intel Capital

Posted by Anonymous on 2011-03-11

PUBLIC:

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.

PRIVATE: Members Only (137 Characters)

7
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CEO/Founder, Thrown Out One Bod Meeting After Closing Intel B Round

Fund: Intel Capital

Posted by Anonymous on 2010-11-02

PUBLIC:

Be warned fellow founders. Eghosa Omoigui of Intel Capital lead the B round in my company, where I was founder/CEO

One board meeting after Intel's funding, in a surprise ambush meeting, Eghosa pushed a Chairman/CEO resignation letter across the table and told me to sign it, or, he had my board assembled across the hall ready to fire me immediately. He made everyone big promises, verbal promises

i lost my whole company, which i spent 4.5y on, except a sliver of ownership of common

he wouldn't agree to my ongoing equity terms before closing the round, he waited and waited until we missed paychecks, then, promised it would be officially assigned immediately after closing, and i trusted him. old trick, turns out

instead, he tossed me out, counter to months of verbal promises. said "we need a more experienced ceo". all the people i worked with for four years, some my closest friends, i couldn't see them anymore, in a moment. i never was able to return to my office again. emotional devastation for an entrepreneur

now i am suing my own company, 2 lawsuits, which is a disaster for both parties

Eghosa, to respond to my lawsuits and discredit me, quickly hired an auditor to comb through four years of my expense reports, and write a report about how i had mis-spent shareholder money - then informed shareholders that is why i resigned, implying some criminal wrongdoing at my own company, where my family are investors, and my oldest and best friends from the seed round

do not forget that eghosa is a lawyer, he will play you to the letter of the law with a smile on his face. be sure to google "nigerian negotiating tactics" in dealing with him

on our B round closing docs, he put in certain rights that were designed to be called far in the future upon certain conditions, but, then at the last minute before closing sigs he turned up with those documents and wanted them executed immediately, as a closing condition - totally unethical, but we had no choice at that point

he rarely writes important things in email, to avoid liability later. he sends these messages over sms, or verbally. consider recording meetings with him, or, get it on paper. if he won't, it's bullshit. because he won't later honor anything he said that you can't prove legally

do not ever forget that point in dealing with him, he lied to my face, over and over, with a big smile, to such an extent that i never believed it could be possible, hence why i believed it must be true

he gets a board seat at your company, but, stays as an observer, so that he's "not legally liable as a board member" and just jumps on if he has to, for a critical vote. won't take liability for his actions, but loves running the show

further, if i had even run a simple background check on Eghosa, i would have seen that he has several lawsuits pending in other states, where he owes money, and had his house recently foreclosed... had i seen this before i would have run. it is pathetic that you would have to run a background check on your VC, at the largest VC company in the world, Intel Capital

I really should have taken the smaller Sequoia offer. People are everything. I ignored it for deal terms, which Eghosa ended up screwing me on in last minute nego anyway. Big mistake. Big.

Don't let this be you.

PRIVATE: Members Only

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Off the Fence?

Fund: Intel Capital

Posted by experience on 2010-03-12

PRIVATE: Members Only (721 Characters)

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We've Been Approached by Intel Capital....Any Suggestions?

Fund: Intel Capital

Posted by startup talking to Intel Capital on 2009-05-14

PUBLIC:

Intel Capital has contacted us. After looking over their investments, it's clear they are serious about our market space. We are pre-revenue.

PRIVATE: Members Only (278 Characters)

5
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Helpful as Investors in Non Standard Ways

Fund: Intel Capital

Posted by jerwin on 2008-08-05

PUBLIC:

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.

On the very positive side, they provided more value to me as a CEO than the other VC firms because of their 'Intel Technology Days' where they arrange for the CEO to meet with and present to the Sr Exec management of key key companies. We had several key partnerships started in this way.

The pros outweigh the negatives.

PRIVATE: Members Only (483 Characters)

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Churn Cpu, Churn

Fund: Intel Capital

Posted by Anonymous on 2008-07-20

PRIVATE: Members Only (738 Characters)

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Money but Without Direction

Fund: Intel Capital

Posted by frodob137 on 2008-06-09

PUBLIC:

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.

PRIVATE: Members Only (133 Characters)

7
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Waste of Time, with a Caveat

Fund: Intel Capital

Posted by Anonymous on 2008-04-20

PUBLIC:

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.

Generally speaking Intel was a waste of time. We had several calls and one in-person visit. They spent more time talking about scaling our software to their new quad-core CPU's than talking about how they could help our business strategically.

Ultimately we stopped talking with them as their questions and suggestions were illogical and seemed mired in negativity.

PRIVATE: Members Only

5
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Scheduling Issues....

Fund: Intel Capital

Posted by Anonymous on 2008-03-11

PUBLIC:

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.

PRIVATE: Members Only (241 Characters)

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The Intel Capital Team and Process Has Improved a Lot!

Fund: Intel Capital

Posted by Anonymous on 2008-03-04

PUBLIC:

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.

PRIVATE: Members Only (179 Characters)

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Wasted a Lot of Our Time

Fund: Intel Capital

Posted by TheAsh on 2008-02-21

PUBLIC:

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.

PRIVATE: Members Only (201 Characters)

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Good Intentions, Bad Execution

Fund: Intel Capital

Posted by evertech on 2008-02-14

PUBLIC:

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.

Overall, they simply made promises that they were in no position to keep. Sure, they are not the first VC to do this but it is very sad they feel that this behavior is OK. In talking with other VCs and executives I'm afraid to say that our experience wasn't uncommon.

PRIVATE: Members Only (1638 Characters)

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Make Sure You Have Another Lead Investor

Fund: Intel Capital

Posted by andres on 2008-01-29

PUBLIC:

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).

Intel is a big name; but in my experience their capital arm is not on par with other perceived investors.

PRIVATE: Members Only

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Tough to Navigate

Fund: Intel Capital

Posted by Anonymous on 2007-10-12

PUBLIC:

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.

PRIVATE: Members Only

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My Way, or the Highway

Fund: Intel Capital

Posted by Anonymous on 2007-09-26

PUBLIC:

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.

PRIVATE: Members Only (350 Characters)

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Helpful Team

Fund: Intel Capital

Posted by video joe on 2009-04-23

PUBLIC:

Intel has backed a few companies that I've worked with. I think they are good people (Sita Vasan is great), but the senior team seems unwilling to make earlier stage bets. Since they can probably add a lot of value in earlier stages, and B rounds will probably get filled out by bigger players, I think they should spend more time nurturing smaller players and less throwing their money in with everybody else. That being said, I'd recommend them because I think they are respected and well connected - VCs often try to tell you they're not a real fund but I think that's ridiculous. 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.

PRIVATE: Members Only (462 Characters)

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Helpful Even When Not Their Focus

Fund: Intel Capital

Posted by Anonymous on 2007-08-16

PUBLIC:

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.

He then offered to make introductions. Too our suprise, he made several helpful introductions.

PRIVATE: Members Only

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Unethical and Poor Character

Fund: Intel Capital

Posted by Anonymous on 2007-06-29

PUBLIC:

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.

PRIVATE: Members Only

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Difficult to Work With

Fund: Intel Capital

Posted by Anonymous on 2007-06-08

PUBLIC:

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.

PRIVATE: Members Only (1103 Characters)