Intel says that it plans to spin off its corporate venture arm, Intel Capital, into a standalone fund, with Intel as an "anchor investor."

Intel, the chips maker that has fallen behind rivals AMD and Nvidia, is separating its venture capital arm into a stand-alone fund. It’s a small step, but shows the company is ready to shake things up under new management.

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.

Intel’s interim co-chief executive, David Zinsner, said spinning off its venture arm was a “win-win scenario as it provides the fund with access to new sources of capital to expand its franchise while allowing both companies to continue benefiting from a productive long-term strategic partnership”.

Intel announced plans to separate its VC arm into a standalone fund, giving it more autonomy and ability to attract external capital.

The chip maker said it will remain an investor in Intel Capital, founded in 1991 with over $5 billion in assets under management.

Intel Capital was set up 24 years ago. It has raised $5 billion and invested in over 1,800 early-stage companies in cloud computing, semiconductors, and end-user devices. The spin-off could cause shocks at portfolio companies, where Intel Capital is an anchor investor and has representatives on the companies’ boards of directors.

Intel Corp. said today that its venture capital arm Intel Capital is being spun off into an independent entity, the latest move in a series of structural changes it’s making as

Intel Capital, the global venture capital arm of Intel, will separate from its parent company to become a standalone fund.

The chip maker said it will remain an investor in Intel Capital, founded in 1991 with over $5 billion in assets under management.