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CNEI invests China’s LED producer

  • Maya Ando
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China New Enterprise Investment (CNEI), a China-focused private equity firm focusing on growth targets, has invested $11 million in Nanjing Handson, a domestic LED lighting application company.

Founded in 1999, Handson has been manufacturing LED lighting products and displays, with a specialization on high-power indoor lighting and explosion-proof lighting. The company is based in Nanjing which Handson notes has seen rapid industry growth alongside hubs such as Beijing and Shanghai.

“As one of the leading Chinese LED manufacturers, Handson’s R&D and sales and marketing capabilities enable the company to take advantage of the significant growth potential in the LED lighting market especially in Japan, Europe and US during the next few years, driven by government policies and LED technology improvements,” CNEI said in a statement. Handson added that Strategies Unlimited’s research data suggests that the global market for LED products stood at $3.8billion in 2010, and is projected to grow to $8.3 billion within three years. 

Earlier this month, LED-focused tech firm ShineOn Holding Incorporation also received a Series B funding from a group of China-focused VCs including the Mayfield Fund, GSR Ventures, Northern Light Ventures and IDG-Accel Capital.

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