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