Eleven more companies are also in the race and are currently being evaluated by an expert team, Atul Vijaykar, director, South East Asia, revealed. The firm, which invests close to $ 350 million annually in venture capital activities, is targeting businesses concerned with internet software and services and software in areas like visualization.

Planetasia.com is on the look out for a venture capital fund which can add to its internet and business expertise. Media reports quoted Microland chairman and managingdirector Pradip Kar as saying infusion of capital was part of its business plan and was likely to take place in April.

Like Rediff, Planetasia offers internet-based solutions to corporations and has so far implemented projects for over 60 clients. However, it is relatively new and is yet to offer services like online shopping which are available on the Rediff site.

Vijaykar said a final decision would be taken in next three to six months. Regarding the six companies which were shortlisted for investments in October last, Vijaykar said only three were now in the reckoning. The other three were not found to be suitable. "The investments have to make business sense," said Vijaykar. Worldwide Intel makes strategic investments in companies to fuel demand for processing power. In recent years, the internet with its enormous growth potential has emerged as a key focus area for the company. The company's India venture capital fund was formed with a corpus of around $ 15 million in October last during the visit ofCEO and president Craig Barett.

The company has also stepped up investment in Project Vidya, its initiative for schools. For the first time, it will send students from India to the international Intel Science and Engineering Fair to be held at United States in May.