Asia watch, March 26, 2007

Intel Capital appoints Kuppam as MD

Intel Capital

last week appointed Sudheer Kuppam as managing director overseeing India, Japan, Australasia and Southeast Asia. he will lead the firm’s investment strategies and expansion plans, including investing the $250 million Intel Capital India Technology Fund.

Kuppam will be based in Bangalore and report to Intel Capital’s President Arvind Sodhani, according to a press statement.

Kuppam was previously working as director of Intel Capital’s Flash Memory and Semiconductor sector.

Bear Stearns forms alliance with China-based Eagle

Bear Stearns Merchant Banking

has teamed with China-based Eagle Investment Group to invest in opportunities in the Chinese retail sector. Each firm will commit $250 million to the $500 million vehicle, called the Eagle-Bear Stearns Retail Fund. Eagle is run by Wong Kwong Yu, founder of Chinese electronics retailer Gome Electrical Group.

Outsource provider raises $45M

iSoftStone Information Service Corp.

, a Beijing-based provider of IT outsourcing solutions, has raised $45 million in Series B funding. Fidelity Asia Ventures and Mitsui Ventures Global Fund were joined on the deal by return backers AsiaVest Partners and InfoTech Pacific Ventures.

The company raised $14 million in a Series A deal in late 2005 from AsiaVest and InfoTech. Bocom Capital Partners served as financial advisor to iSoftStone on the Series B.