GVR Fund Raises $18.3m For Continued Investment in AR/VR
GVR Fund will be changing its name to GFR Fund to reflect wider outlook.
GREE VR Capital LLC has been involved in investing in popular and successful virtual reality (VR) start-ups and projects. The GVR Fund was first established in 2016, and upon completion will be changing its name to GFR Fund.
The GFR Fund was one of the first investors to become strongly involved with the VR, augmented reality (AR) and mixed reality (MR) sector, providing funding for 17 early-stage companies, including VRChat, Sliver.TV and Littlestar.
Having raised $18.3 million (USD) for VrR/AR/MR, the fund is now actively seeking new AR and MR startup companies, looking particularly for companies involved with mobile AR platforms, AR cloud, consumer AR applications and enterprise AR.
“GFR invested in our Series A round and has been instrumental in helping our company grow both in the U.S. and Asia,” said Tony Muravero, co-founder and CEO of Littlstar, a VR content network and one of GFR’s portfolio companies. “They brought us to Japan in 2016 and introduced us to nearly a dozen accredited investors, helped us secure Sony and others as new investors, and lined up a speaking engagement for us at the Japan VR Summit. The connections and visibility that GFR was able to bring to us has been critical in making Littlstar the success that it is and has afforded us the opportunity to expand into new markets.”
“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 contents. 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.”
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