Taiwan's GVT Fund leads Series E round in LED Engin
Taiwan-based GVT Fund, which is sponsored by Industrial Technology Investment Company, has led a Series E funding round in LED Engin, a California-based solid-state lighting company specializing in LED components and optics.
The technology fund was joined by Mitsui Sumitomo Insurance Venture Capital, an arm of Japanese Mitsui Sumitomo Insurance. Existing investors WK Technology Fund, Partech International, NGP Energy Technology Partners, and Chairman Keh-Shew Lu also participated.
The company specializes in ultra-bright, ultra-compact solid state lighting solutions that allow designers and engineers to create energy efficient lighting products.
The latest round will allow LED Engin to expand operations by broadening its product portfolio, increasing manufacturing capacity and expanding its global sales and marketing network. David Tahmassebi, president and CEO of LED Engin, said he expected GVT Fund to share its connections and experience of Asian markets.
"We believe that the LED industry is set to grow and we see that LED Engin possesses pioneer technologies with potential to drive the industry," said Herb Lin, managing partner of GVT Fund. "We are excited to participate in the company's growth path."
Established in May 2011, GVT Fund primarily focuses on long-term investment opportunities in Greater China, targeting companies across telecom infrastructure, systems, renewable energy, energy efficiency, and other high-growth industries.
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