When Wendell Brooks stepped down Last August, as managing partner and head of Intel Capital, Anthony Lynn was named to replace on an interim basis. At the time, it was unclear whether he would be given the role permanently, but today, six months later, the answer is known.
in Letter to the firm’s portfolio CEO Published on the company’s website, Lynn noted, almost carelessly, that he had taken the two roles on a permanent basis. “Personally, I would like to share that I have been appointed as partner and head of Intel Capital. I have been a member of the Investment Committee for the past several years and have humbly woken up to the talent of our entrepreneurs and our team, ”he wrote.
Lynn works in a time of turmoil for Intel as the company struggles to regain its place in the semiconductor business that dominated for decades. During this, Intel itself has a new CEO With Pat Jellinger returning in January from VMware to lead the organization.
As Intel’s corporate investment arm, it looks for companies that can help the parent company understand where to invest resources in the future. If this is its goal, then it probably has not done any major work because Intel has lost its edge when it comes to innovation.
Lynn, formerly head of mergers and acquisitions and international investment in the firm, is using the firm’s investment dollar power to help the parent company point in the right direction and find new ways to create innovative solutions on the Intel platform. Can. .
Lynn acknowledged how challenging 2020 was for everyone, and his company was no exception, but the firm invested in 75 startups, including 35 new deals and 40 deals that the companies had previously invested in. It has also committed to invest with more companies. Miscellaneous Founder. To that end, 30% of new venture phases went to startups led by various leaders, according to Dollar Lin.
What’s more, the company made a five-year commitment that 15% of all its deals go to black founding companies. It made some progress towards that goal, but there is still a way. “At the end of 2020, 9% of our new venture deals and 15% of our venture were in companies led by committed black founders. We are aware that more progress has to be made and we will continue to encourage, promote and invest in diverse and inclusive teams. “
Lin faces a major challenge as he was the same leader in Arvind Sodhani for the first 28 years. His predecessor, Brooks, was there for five years. It now passes on to Lynn and she needs to use the firm’s investment to help Broadsig pursue the firm’s goals, making sound investments.