GREE launches $12M fund for early stage VR content startups

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Source:   —  April 13, 2016, at 3:10 PM

The fund is primarily aimed at VR content companies, and Teppei Tsutsui, Managing Director at GREE VR Capital, tells me that he’s hoping to have the fund approach gaming and non-gaming VR companies fairly evenly.  “Our experience in working with major industry players such as Oculus, Samsung, HTC and Google prove that we've the expertise and relationships to create a significant impact in the market,” said Tsutsui.

GREE launches $12M fund for early stage VR content startups

In an effort to foster growth in early-stage virtual reality content companies looking to build momentum, today GREE announced the $12 million GVR Fund.

The fund is primarily aimed at VR content companies, and Teppei Tsutsui, Managing Director at GREE VR Capital, tells me that he’s hoping to have the fund approach gaming and non-gaming VR companies fairly evenly. 

“Our experience in working with major industry players such as Oculus, Samsung, HTC and Google prove that we've the expertise and relationships to create a significant impact in the market,” said Tsutsui.

The company has a beautiful solid history on mobile and is thus particularly looking into platforms in the mobile VR space. GREE has already made its first investment from the fund in VRChat, a platform which lets users construct their own virtual reality worlds in Unity and publish/share them love giant VR chatrooms. Notably, Colopl VR Fund and mixi are also LPs on this fund.

“The GVR Fund highlights GREE’s commitment to the potential of virtual reality as an emerging platform. We not only look ourselves as a content developer but as an investor as well. We wish to create same values we successfully did in the past through investments in companies when the mobile platform took off,” said Naoki Aoyagi, Senior Vice-President at GREE, in a statement.

GREE had made some movements in the VR space internally prior to the announcement of this specific fund, including the creation of GREE VR Studio this past Nov and its first VR title, which it showed off at the Tokyo Game Indicate this past year.

Featured Image: Tag Lennihan/AP

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