FINLAND - Via Venture et al. sell OptoGaN to Russian industrial investor

OptoGaN specialises in high-brightness Gallium nitride-based LEDs, which are used in the background lighting of mobile terminals, computer LCD displays, the automotive industry and for general lightning. LEDs lamps use 10-12 times less energy than traditional light bulbs and about half as much as energy saving lamps. The company was founded in Finland in 2004, and started a full pilot line in Dortmund in Germany in 2006.

VNT management and Finnish Industry Investment first invested in the company in 2004. Via Venture led a EUR 5m funding round for the company in 2007, in which existing investors also participated.

Following the transaction the buyer will hold 82% of the shares in OptoGaN.

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