Intel (News - Alert) Capital is investing money in two Russian online companies.

Intel Capital has led an investment round in AlterGeo – which provides geo-location social networks in Russia, the company said. The money will be used to develop new services, increase the company’s user base, and build a customer acquisition platform, according to an Intel Capital (News - Alert) statement. AlterGeo has over 700,000 users.

Intel Capital will also invest in Sapato.ru, which is an e-commerce retailer specializing in shoes and other footwear. Sapato has over 200 brands. The market is rapidly expanding, Intel Capital said. The money will be used to increase marketing efforts and streamline the company’s operations.

“Innovation has been central to Russia’s development over the last few years. Our investments in these companies are proof of our continued commitment to the region and to supporting its entrepreneurial talent,” Arvind Sodhani (News - Alert), president of Intel Capital, said in a company statement. “Our support for these companies will give them access to global resources, knowledge and expertise to help drive their own growth and success.”

Reuters also reported that the investment by Intel Capital shows “investor confidence in growth prospects of Internet businesses.”

Intel Capital did not provide details on the deals. Reuters (News - Alert) said that in 2010 Intel Capital invested $327 million in 119 deals.

In a related story, TMCnet reports that Intel Capital recently announced four U.S. investments. The deals total about $24.5 million and include CrowdStar, a developer of social games on Facebook (News - Alert) and mobile platforms; iStreamPlanet, a provider of live Web broadcast management and automated video workflow; Music Mastermind, an independent entertainment and technology company; and PerspecSys, a cloud data security provider, TMCnet adds.

With the four new investments, and new deals in China and India, Intel Capital has made over $10 billion in total investments since its start, TMCnet said.