Mumbai: Intel’s venture capital arm Intel Capital will be investing $ 12 million in Shanghai Media Group’s Broad Band unit for technology research and product development of its IPTV platform.

"Our past experience has proven that Chinese new media, represented by broadband online TV, is transforming the traditional media industry," said Shanghai Media Group president Li Ruigang.

The funds will be used in improving in Shanghai Media Group’s broadband TV services.

Earlier this month, Intel also launched a $500 million Intel Capital China Technology Fund.