Intel recently announced it will invest more than US$1 billion in India during the coming five years. Approximately US$800 million will be allocated for expanding operations at the company's R&D center in the city of Bangalore, while the company will set aside about US$250 million for the creation of a venture capital fund. The fund will invest in software, hardware and technology-oriented service companies which do work on mobile communications, and broadband and wireless technologies. Furthermore, Intel will spend money on marketing, education and community programs in the country. The US company has invested US$700 million in India during the past decade, and it has invested in more than 40 Indian companies since 1998.