Universal Display Corporation, the US-based developer of organic light emitting diode (OLED) technologies and materials, has established a corporate venturing arm called UDC Ventures.
Founded in 1994, Universal Display develops and supplies OLED technologies and phosphorescent materials that power the displays of consumer electronic products such as smartphones, wearable devices, computers and televisions as well as virtual reality, automotive displays and signage.
The company’s OLED technology also offers a more efficient power source for lighting products compared to traditional incandescent bulbs and fluorescent tubes.
UDC Ventures will make investments ranging at seed-stage to later growth-stage, focusing on areas such as OLED, organic electronics, displays, lighting and materials science technology.
Each portfolio company will have the opportunity to partner with Universal Display to tap the firm’s expertise in intellectual property licensing, materials development and manufacturing, along with accessing the corporate’s technology experts.
UDC Ventures has hired Josh Epstein, formerly managing director for investment bank Stifel Financial, as managing director to lead the unit. During his nine-year stint at Stifel, he focused on the semiconductor, capital equipment, optical, technology manufacturing and industrial technology sectors.
Steven Abramson, Universal Display’s president and CEO, said: “Since our beginning as a three-person research and development startup over 20 years ago, the drive for innovation and commitment to excellence has propelled Universal Display into a global leader in the OLED ecosystem.
“With our rich history, significant expertise and know-how, we believe that we are well positioned to be an important, insightful and invaluable partner to promising companies across a spectrum of emerging and established industries.”