When Wendell Brooks was promoted to president of Intel Capital, the chip giant's investment arm in 2014, he knew he had big shoes to fill. He was taking over from Arvind Sodhani, who had managed the investment component for 28 years since its inception. Today, the company confirmed that it has resigned from that role.
"Wendell Brooks has resigned from Intel to pursue other opportunities. We thank Wendell for all his contributions and wish him the best for the future, "a company spokesman told ProWellTech in a rather bland message.
Anthony Lin, who led international mergers and acquisitions and investments, will take over on a provisional basis. Interestingly, when Brooks was promoted, he was also responsible for the mergers and acquisitions.
It remains to be seen if Lin retains that role, but when I spoke to Brooks in 2014 as he was about to take over from Sodhani, he certainly seemed ready for the task. "I have huge shoes to fill in keeping that track record," he said at the time. "I see this as a huge opportunity to grow the focus of the organization where we can deliver strategic value to portfolio companies."
In the same interview, Brooks described his investment philosophy, saying he preferred to lead, rather than become a secondary investor. "I tend to think that the lead investor is able to influence the business thesis, the path to the market, the direction, the technology of a startup more than a passive investor," he said. He added that he also tends to get seats on board that can provide further influence.
Comparing his company to traditional VC companies, he said they were just as good or better in terms of investment records and that a strategic investor brought other benefits as well. "Some of the traditional VCs are focused on the building value of a company. We are able to provide strategic guidance and compliment the construction of the company compared to other VCs, "he said.
Over the company's lifetime, it has invested $ 12.9 billion in over 1,500 companies with 692 of those leaving via IPO or acquisition. Just this year, under Brooks' leadership, the company has so far invested $ 225 million, including 11 new investments and 26 investments in companies already in the portfolio.