Intel says that it plans to spin off its corporate venture arm, Intel Capital, into a standalone fund, with Intel as an “anchor investor.”

In a press release on Tuesday, Intel said that the move will “[enable] greater autonomy” and “the flexibility to attract external capital.”

“The separation of Intel Capital is a win-win scenario as it provides the fund with access to new sources of capital to expand its franchise while allowing both companies to continue benefiting from a productive long-term strategic partnership,” David Zisner, Intel’s co-chief executive officer and chief financial officer, said in a statement. “This step supports our broader strategy to maximize the value of our assets while driving greater focus and efficiency across the business.”

This story is developing and will be updated.