© ljupco smokovski dreamstime.com General | May 09, 2019
Universal Display establishes UDC Ventures
Universal Display Corporation announced it has formed UDC Ventures as its corporate venture arm, and Josh Epstein has taken the helm as managing partner. In that capacity, Epstein will lead the new entity and work with the Universal Display management team.
According to a company press release, Epstein most recently served as managing partner at Stifel Financial Corp, and his career spans over two decades as an investment banker, heading global practices focused on electronics, digital media and emerging technologies. During his banking career, Epstein worked with a range of IP intensive, technology companies, helping to enable and define new sectors with an expertise in strategic advisory, M&A and capital raising. Headquartered in New York City, UDC Ventures plans to invest in and partner with entrepreneurs, disruptive start-ups and innovative, emerging companies with an emphasis on technology platforms that have a strong proprietary position and significant growth potential. Strategic sectors of interest include OLED, organic electronics, displays, lighting, materials science and other related areas. Companies can be at any stage, ranging from pre-commercial stage research and development to early prototypes through late stage, established companies. The venture arm seeks to be an impactful strategic investor, with investments ranging from seed funding to later stage growth capital. UDC Ventures is focused on investing in trends that can impact the technology landscape similar to how OLED technology has impacted the broader display market. The newly formed entity will provide opportunity for its portfolio companies to partner with Universal Display Corporation and its platform of global experts in the fields of IP licensing, materials development and manufacturing and its broad relationships with technology leaders. “We are excited to launch UDC Ventures,” said Steven V. Abramson, president and CEO of Universal Display Corporation. “Since our beginning as a three-person R&D start-up 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.”