Intel to Turn Venture Arm Into Separate Firm With New Name (1)

Intel Corp., the once-dominant chipmaker struggling to revive its business and finances, plans to turn its venture capital arm into a separate fund with a new name.

The chipmaker will continue to be an “anchor investor in the new company,” according to a statement Tuesday. The division, currently known as Intel Capital, has more than $5 billion in assets.

Intel’s venture arm is one of the best-known corporate investment vehicles in the history of Silicon Valley and has put more than $20 billion into businesses over the last 30 years. Historically, it has concentrated on technology that it ...