Intel Capital, Intel's strategic investment arm, has announced that Arvind Sodhani, executive vice president of Intel Corporation and president of Intel Capital, will retire after 34 years in the business.

Wendell Brooks, who joined Intel last summer as head of the company’s M&A organization, will become the new president of Intel Capital, effective January 2016.

“Starting in September, Wendell and I will jointly manage Intel Capital until I take my leave. It will be a seamless transition,” said Sodhani.

Sodhani helped found Intel Capital in the late 1980s and has built it into one of the world's largest venture investors.

Sodhani was elected vice president by the board of directors in May 1990, served as senior vice president from 2005 to 2007 and was promoted to executive vice president in December 2007.

He joined Intel in 1981 as assistant treasurer of Intel Europe, was promoted to the position of assistant treasurer of the corporation in August, 1984 and was named treasurer in July 1988.

As Intel's treasurer, Sodhani was responsible for treasury, investor relations, corporate credit, mergers and acquisitions, post contracts management and risk management.

He became president of Intel Capital in March 2005.

Sodhani served as a member of the NASDAQ Stock Market, Inc. board of directors from 1997 – 2007.

He also served as a member of the SMART Technologies, Inc. board of directors from 2007-2013.

Brian Krzanich, Intel CEO, said: “Arvind transformed Intel Capital into the most successful technology venture capital group in the world.”

Brooks currently serves as corporate vice president and president of mergers and acquisitions.

In this role, Brooks is responsible for leading, managing and driving Intel's mergers and acquisition strategy and execution.

Brooks has spent 23 years in the investment banking industry split nearly equally between Europe and the United States.

Before joining Intel, Brooks served as a managing director in mergers and acquisitions for Allen & Company.

Prior to that, Brooks worked for 15 years as a managing director for Citigroup.

Intel Capital is a technology venture capital group with over 400 companies in its portfolio.

In Africa, Intel’s current portfolio companies include Rancard Solutions in Ghana and Altech Technologies in South Africa.

Overall, Intel Capital has invested more than $11.5bn in over 1,400 companies in 57 countries.

The company regularly invests between $300m and $500m each year from its own cash flow.