Wendell Brooks was promoted to president of Intel Capital, back in 2015, he took over from Arvind Sodhani, who had run the investment component of Intel for 28 years since its inception. Today, Intel Capital confirmed reports that Brooks has resigned 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 spokesperson told TechCrunch in a rather bland send-off.
Anthony Lin, who has been leading mergers and acquisitions and international investing, will be the interim president. Whether Lin keeps that role remains to be seen.
When Brooks took over from Sodhani, he certainly sounded ready for the task at hand. “I have huge shoes to fill in maintaining that track record,” he said at the time. “I view it as a huge opportunity to grow the focus of organization where we can provide strategic value to portfolio companies.”
In that same interview, Brooks described his investment philosophy, saying he preferred to lead, rather than come on as a secondary investor. “I tend to think the lead investor is able to influence the business thesis, the route to market, the direction, the technology of a startup more than a passive investor,” he said. He added that it also tends to get board seats that can provide additional influence.
Comparing Intel Capital to traditional VC firms, he said they were as good or better in terms of the investing record, and as a strategic investor brought some other advantages as well. “Some of the traditional VCs are focused on a company-building value. We can provide strategic guidance and complement some of the company building over other VCs,” he said.
Over the life of the firm, it has invested $12.9 billion in more than 1,500 companies, with 692 of those exiting via IPO or acquisition. Just this year, under Brooks’ leadership, the company has invested $225 million so far, including 11 new investments and 26 investments in companies already in the portfolio.