Seoul Semiconductor, a Korea-based maker of light-emitting diodes (LED), has agreed to co-invest in the sector with Singapore-based Vertex Venture Management, the venture capital subsidiary of the island’s sovereign wealth fund Temasek.
Seoul Semiconductor said its operational insights into third parties would be helped by Vertex’s investment focus.
Brian Wilcox, vice president of North American sales for Seoul Semiconductor, said: "There are various LED-related new technologies and application companies engaged in R&D that have synergies with such new technologies in the world."
Joo Hock Chua, chief investment officer at Vertex, said: "LED is an eco-friendly light source with significant growth potential in the mid- to long-term."