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WhiteGold Fund Management invests in Light Blue Optics

WhiteGold Fund Management, a multi-strategy London-based family office, has made its first private equity investment in Light Blue Optics.

Light Blue Optics raised USD13m in the funding round, which was led by DFJ Esprit.

Existing investors Robert Bosch Venture Capital, Earlybird Venture Capital, Capital-E and NESTA also participated and were joined by new investors Christie Digital Systems Canada and WhiteGold.

Light Blue Optics’ first reference product, Light Touch, was released at the Consumer Electronics Show in January. Light Touch is an interactive projector that transforms any flat surface into a ten-inch touch screen, allowing users to interact with multimedia content in new ways.

Bob Rushby, chief technology officer at Christie Digital Systems Canada, says: “As a world leader in the electronic display industry, Christie was among the first to recognise the unique benefits of HLP technology and the vast market opportunity it represents. We’ve been engaged with Light Blue Optics for some five years now and are delighted to become investors at this exciting time as this opens up entirely new opportunities for electronic displays.”
 
Ekaterina Yakovenko, managing director and head of private equity division, WhiteGold, says: “Light Blue Optics presented us with an opportunity to invest in one of the most exciting display technologies of recent times. From the moment we first used Light Touch, we understood how this device revolutionises the way we interact with content. It’s a game changing technology and we’re pleased to join the existing investors of this visionary Company as they fast track their roadmap towards Gen 2 products that are even smaller, brighter and more efficient.”

Light Blue Optics’ chief executive Chris Harris adds: “This USD13m financing round will enable us to continue to capitalise on the enormous customer interest in our first products Light Touch and Light Work whilst also driving ahead with our Gen 2 development programme for embedded products that deliver three times the brightness of a typical tablet screen using only half the power.”

The funding follows the company’s previous series A extension of USD15m in July 2009.

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