California-based company invests in Indian design firm CG CoreEL

The Economic Times reports that California-based Xilinx, Inc., the world’s largest programmable logic services company is investing in CG CoreEL. CG CoreEL is a Noida-based design firm providing embedded systems design services.

Xilinx seems to be following the ‘corporate venturing’ strategy of private equity and is investing out of its $75-million corporate venture capital fund called the Asia Pacific Technology Fund. CG CoreEL is the first recipient of its funding activities and is currently negotiating terms with Xilinx. The deal size would be disclosed later. Xilinx is also in talks with few other companies in India for investment, all of which are at an early stage.