GREE sets up investment fund to boost growth at young virtual reality companies
Mobile social company GREE has put in place the GVR Fund, an investment pot that functions as a bridge between strategic investors to give early stage virtual reality (VR), augmented reality (AR) and mixed reality (MR) companies the opportunity to boost growth.
The fund will be managed by GREE VR Capital and will invest in gaming and non-gaming software and content companies. To date, the fund has invested in two companies: VRChat, a platform that allows users to create, publish, and explore VR worlds with users around the world, and SPACES. In addition to GREE, Colopl VR Fund and mixi are also Limited Partners of the fund.
GREE put on display its first VR title – Sarah and the Viper's Crown – at the Tokyo Game Show in 2015 and launched GREE VR Studio, its internal VR production studio shortly after that in November 2015. The first game from the GREE VR Studio, Tomb of the Golems, will launch in April 2016. Tomb of the Golems is a shooter VR game that takes players on a journey through Egyptian ruins, and will be available soon at the Gear VR Oculus Store.
Teppei Tsutsui, managing director at GREE VR Capital, said: “Our experience in working with major industry players such as Oculus, Samsung, HTC and Google prove that we have the expertise and relationships to make a significant impact in the market. In addition, our LPs are a selective group of strategic investors who can bring significant value to companies.
“We can't wait to see what unique experiences early-stage companies are creating, and to identify how the GVR Fund can help bring their ideas into the hands of consumers worldwide,” Tsutsui added.