Gree VR Capital, a venture investment division of Japan’s mobile game publisher Gree, has completed its first fund for virtual reality investments and is rebranding so that it can invest in the broader augmented reality and mixed reality sectors.
Gree invested $18.3 million in 14 VR startups and three augmented reality companies in its first fund, which is now closed. The second San Francisco-based fund will be known as the GFR Fund and will invest in a variety of sectors going forward.
The original Gree VR Capital fund was established in April 2016 and has invested in companies such as Littlstar, VR Chat, Spaces, and Immersv.
“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, in a statement. “Based on our observations of the emerging AR market, we are looking closely at consumer mainstream as well as enterprise applications such as AR Cloud, navigation, advertising, social media, and consumer content via smartphones or AR glasses.”
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