GREE launches $12 million VR investment fund

GREE has launched a $12 million investment fund for early-stage companies focused on virtual reality, augmented reality and mixed reality.

The GVR Fund, which will be managed by the US-based GREE VR Capital, LLC, will not be limited to gaming companies, but it's primary focus will be young companies looking for accelerated growth. Colopl VR Fund and Mixi are also involved as Limited Partners.

In a statement released today, Teppei Tsutsui, managing director at GREE VR Capital, highlighted the wider company's existing relationships with key players in the emerging VR industry, including Oculus, Samsung, HTC and Google.

"We not only see ourselves as a content developer but as an investor as well," added Naoki Aoyagi, senior vice-president at GREE, Inc. "We want to create the same values we successfully did in the past through investments in companies when the mobile platform took off."

In fact, the GVR Fund has already invested in two companies: VRChat, Inc. and SPACES, Inc., neither of which are focused on game development.

In November last year, shortly after the Tokyo Game Show, GREE unveiled its own in-house VR Studio. GREE VR Studio's first game, Tomb of the Golems, is scheduled for release for Samsung Gear VR this month.