Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Fund Invests in Virtual Katy Development Limited

iGlobe Treasury Fund Invests in Virtual Katy Development Limited, A Media Technology Company

Auckland, New Zealand — (22 March 2006) —iGlobe Treasury, a New Zealand Venture Investment Fund Manager, has provided Series A financing to Virtual Katy Development Limited, the sound-editing software company set up two years ago by The Lord of the Rings, sound effects editor, John McKay. Dynamic media technology space is a key area of investment focus for iGlobe Treasury, which separately has also invested in an animation studio project that is co-producing the first of its creative media content due for worldwide release in early 2007.

Virtual Katy plans to use the capital raised from iGlobe Treasury to build on its early success in selling its VK software in the US and Europe. The VK Software is already being adopted by a number of reputable film and TV studios in the post-production of sound-editing work on films, which include Thunderbirds and Bridget Jones, the forthcoming V for Vendetta, the highly rated US TV series Lost, and several popular TV shows in the United Kingdom and across Europe.

"iGlobe Treasury’s investment allows us to fund a sustainable strategy for growth to make Virtual Katy a global player in the dynamic media industry,” says Virtual Katy’s founder, John McKay. The Company plans to release its latest VK software version 2.0 at the upcoming world’s premier National Audio Broadcasters (NAB) Show in April at Las Vegas, Nevada, USA.

New Zealand Venture Investment Fund CEO, Mrs Franceska Banga, said that there have been 33 investments made to-date through the VIF Programme, which includes 6 investments made by iGlobe Treasury. “iGlobe Treasury’s focus on the creative media content and technology sector is very exciting and will help to extend New Zealand’s growing stature as a media production hub” she said.

iGlobe Treasury has been working closely with Virtual Katy over the last several months, and guided its strategies for product development, market planning and business expansion. “John has an outstanding track record in the media industry,” said Philip Lum, General Partner of iGlobe Treasury. “Virtual Katy is uniquely positioned to provide new technology and solutions that address some of the critical needs of a burgeoning industry. We’re here to help entrepreneurs like John to realize their vision,” Philip added.

About iGlobe Treasury (www.iglobetreasury.com)

Based in Auckland and founded in 2002, iGlobe Treasury is one of the five fund managers selected and funded partially by the New Zealand Government’s Venture Investment Fund (VIF) Programme. iGlobe Treasury is also backed and funded by the Singapore Government and other institutional investors.

Managed by iGlobe Treasury Management (iGTM), the fund invests in early stage companies in the info-comm, creative media, life sciences and environmental technology sectors.

About Virtual Katy Development Limited

Virtual Katy Development Limited is a New Zealand based software developer of innovative solutions for the post-production world. Its flagship product, VK, is a battle-hardened program designed for audio professionals. For more information on Virtual Katy Development Limited visit www.virtualkaty.com or contact:
Virtual Katy Development Limited John McKay

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news