Forms joint investment in LED technology development with Singapore-based Vertex Venture Management Company
PORTLAND, Ore.--(BUSINESS WIRE)--Seoul Semiconductor Corporation (CEO: Chung Hoon LEE, www.seoulsemicon.com), a global market-leader and innovator in Light-Emitting Diode ("LED") technology, announced today an agreement with Singapore-based Vertex Venture Management ("Vertex") to jointly seek and invest in companies with advanced capabilities in the areas of LED technology development.
“LED is an eco-friendly light source with significant growth potential in the middle- to long-term, and we intend to identify and invest into many more companies with strong technology potential going forward.”
Through this agreement, Seoul Semiconductor will leverage its world-leading expertise and deep experience in LED technologies to seek out high-potential companies and combine them with the capabilities of Vertex in sourcing and administering investment capital to achieve synergies for effective investment and returns. In addition, it was announced that, with subsequent expansion of investment opportunities, both companies may establish a dedicated fund to nurture the research and development efforts of technology companies that will drive future innovation in the LED and its related industries.
"There are various LED-related new technologies and application companies engaged in R&D that have synergies with such new technologies in the world. We want to support these efforts at such companies. We expect that many global firms will seek to work with us. All such firms are invited to sign-up on the Investment Application section of our website," said Brian Wilcox, Vice President of North American sales for Seoul Semiconductor.
Vertex Venture Management is a venture capital firm that is a subsidiary of Vertex Venture Holdings, which is wholly owned by Temasek Holdings. Vertex is engaged in company investments and fund commitments throughout all of Asia and the U.S. Joo Hock CHUA, Chief Investment Officer of Vertex said, "LED is an eco-friendly light source with significant growth potential in the middle- to long-term, and we intend to identify and invest into many more companies with strong technology potential going forward."
About Seoul Semiconductor
According to the LED market reports issued by IMS Research in the U.K. and Strategies Unlimited in the U.S., SEOUL SEMICONDUCTOR is the world’s fourth largest LED supplier, holding more than 5,500 patents. In particular, it owns the world’s leading LED technology and production capacity, such as deep UV LED and non-polar LED, as well as Acriche. At present, it provides high-quality LED products through 33 overseas branches (including three local corporations) and 150 domestic agencies.
