The Intel Capital Ultrabook Fund will invest in companies developing hardware and software in areas such as sensors and touch, longer battery life, thinner designs and improved storage capacity, Intel said. It will invest the money over three to four years.

The company disclosed its Ultrabook idea at Computex in June. It said the devices would be a new type of laptop with "tablet-like" capabilities such as instant on, touchscreens and batteries that last all day. The first wave is expected toward the end of the year, with more advanced designs appearing in the next few years.

Intel's push for Ultrabooks comes at a time when the chip maker is trying to rejuvenate interest in the PC market, where shipments have slowed due to the popularity of tablets. But beyond competing with tablets, building thinner and lighter products should give laptops more appeal.

"It's a good counter to pretty much everything. They just look at it as enabling the market," said Dean McCarron, principal analyst at Mercury Research.

Laptops and tablets have different characteristics and Ultrabooks are an attempt to harmoniously merge the two, said Greg Welch, segment director for the mobile client platforms at Intel, in an interview last week.