Activist Investor Daniel Loeb Takes Bold Moves in Tech Sector
As 2020 draws to a close, Daniel Loeb’s Third Point hedge fund is making waves with two major strategic plays—launching a pressure campaign against Intel while simultaneously preparing a new venture capital fund.
Third Point’s Activist Push Against Intel
In a dramatic move, Third Point sent a strongly-worded letter to Intel’s leadership demanding significant changes:
- $1 billion stake acquired in the semiconductor giant
- Calls for strategic alternatives and management reforms
- Comes as Intel lags behind compe*****s in chip manufacturing
Intel’s stock surged 5% following the news, reflecting investor optimism about potential improvements. This intervention comes at a critical juncture for Intel, which faces mounting challenges in maintaining its industry leadership position.
New $300 Million Venture Fund in the Works
Simultaneously, Third Point is expanding its investment strategy:
- Planning to raise $300 million for new VC fund
- Target close by February 2021
- Builds on firm’s existing venture arm, Third Point Ventures
Third Point’s Venture Track Record
The firm has previously invested in:
- Cybersecurity (SentinelOne)
- Data analytics (Yellowbrick Data)
- Fintech and healthcare sectors
While the exact focus of the new fund remains undisclosed, it signals Third Point’s growing confidence in private tech investments alongside its activist strategies.
Strong Performance Despite Market Turbulence
Third Point enters these new ventures from a position of strength:
- 12.3% returns in 2020 (through early December)
- Outperformed during pandemic market volatility
- Demonstrating resilience in challenging economic conditions
These dual moves highlight how activist investors are increasingly bridging public and private market strategies to capitalize on tech sector opportunities. As Intel faces mounting pressure and startups gain a potential new funding source, 2021 promises to be an intriguing year for tech investment dynamics.
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