I have been predicting for some time that layoffs would inevitably hit Intel’s venture capital arm. What’s more, I’ve argued that when they did hit Intel Capital they would hit it harder than other parts of the company. After all, corporate venturing is tricky to justify to execs at the best of times; it’s downright impossible to justify when things are awry, as they are now at Intel.
It should, therefore, come as no surprise to hear today that Intel Capital will let go 15-20% of its 100 (!) investment officers by year end. That is what, according to a source who should know, Intel Capital VCs were apparently told yesterday. It seemingly came as a surprise, which just means there are still some layabouts out there who don’t read this site.