Welsh billionaire Terry Matthews

The skin treatment industry is worth billions worldwide and Canada-based Sir Terry's �350,000 investment is poised to recoup significant dividends if the laser technology is taken up in salons across the globe.

His UK investment company, Wesley Clark, signed a deal with the Swansea-based firm, Enfis, at midday on Thursday.

It is Wesley Clark's first deal in its role as a profits scout in the hi-tech sector.

Research firm Enfis was founded by two professors at the Swansea University.

It will develop and market light-emitting devices for the medical, cosmetic and the industrial markets.

And it is on the verge of closing a deal with a North American operator for its acne treatment.

Sir Terry is better known fo his golfing interests

The deal was signed at The Technium in Swansea a Welsh Development Agencysupported entrprise site for hi-tech businesses.

Sir Terry, who was brought up in a two-up, two-down house in the south Wales Valleys, was knighted last month.

The father-of-four, who made his money in the elecctronics industry - and still owns the telecommunications giant Mitel - is known for his love of golf.

In September this year, he stunned the sporting world by upping his bid to host the Ryder Cup golf tournament at his Celtic Manor resort near Newport, south Wales, by �15m.

His tender, worth �50m to the sport, won the event for 2010.