Gree VR Fund invests $18.3m into 17 augmented and virtual reality startups
San Francisco-based venture capital fund re-brands to reflect commitment beyond just virtual reality
Gree VR Capital has announced the end of its first funding round in virtual, augmented, and mixed realities after having committed $18.3 million into 17 different startups.
The San Francisco-based venture capital fund has previously invested in startups such as VRChat, Silver.tv, and Littlestar.
In order to reflect the its commitment to more than just VR, the fund has confirmed a name change to GFR Fund ahead of its second round later this year.
Going forward, the fund is actively seeking AR and MR investment opportunities, with a particular focus on AR platforms, AR Cloud, consumer AR applications, and enterprise AR including AR glasses.
"We are committed to providing the expertise and guidance needed to help our portfolio companies interact with other investors, and drive strategic partnerships with U.S. and Asian corporations that can help them grow and succeed," said Teppei Tsutsui, CEO and managing director of Gree VR Capital.
"We believe that the AR market, especially mobile AR, is finally ready for consumers in 2018 with Google's ARCore and Apple's ARKit enabling developers to create killer content.
"In addition to consumer AR, we are also interested in enterprise applications such as AR Cloud, navigation, advertising, social media, and consumer content via smartphones or AR glasses."