Seoul Semi, Vertex Jointly Invest in LEDs
SEOUL, Korea, Nov. 23, 2010 — Seoul Semiconductor Corp., a LED supplier, announced an agreement with Singapore-based Vertex Venture Management to jointly seek and invest in companies with advanced capabilities in the areas of LED technology development.
Through this agreement, Seoul Semiconductor will leverage its 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,” said Brian Wilcox, vice president of North American sales for Seoul Semiconductor. “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.”
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 US.
“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,” said Joo Hock Chua, chief investment officer of Vertex.
For more information, visit: www.seoulsemicon.com
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