HTC, along with 28 venture investment companies have formed the VR Venture Capital Alliance.
The purpose of the Virtual Reality Venture Capital Alliance (“VRVCA”) is to foster long-term growth in the VR industry through identifying, sharing and investing in the world’s most innovative & impactful VR technology and content companies. The Virtual Reality Venture Capital Alliance is focused on promoting the development of the global VR industry and its ecosystem.
The VRVCA is looking to invest up to US$10 billion to explore and facilitate investment activities within the VR industry, however no timetable or investment goals were released.
From the VRVC website:
Formed in 2016, the VRVCA is a close-knit membership comprised of 30 of the top Virtual Reality Investors in the world. We believe that VR is a transformative technology that will revolutionize entire industries, one that will leave a lasting impact for many future generations to come. In order to achieve that dream, we are working tirelessly to ensure that the VR startups today get the resources they need, so that they can grow into the industry titans of tomorrow.
Participation in the VRVCA will enable Sequoia to better understand the ecosystem of the VR industry as well as the investment opportunities that may be forthcoming, said Xi Cao, managing director of Sequoia Capital China, as quoted by the Chinese-language Economic Daily News (EDN).
The group meets every two months in Beijing and San Francisco. Go here for Pitch Submissions
Aside from HTC the VRVCA currently includes the following founding members:
VRVCA Founding Members
# OF OPPORTUNITIES TO PITCH = 6x per year
# OF TOTAL VR INVESTMENTS MADE = TBD
AMOUNT OF TOTAL DEPLOYABLE CAPITAL = $10+ Bn USD
- We invest in Virtual Reality, Augmented Reality and Mixed reality startups of any size from anywhere around the world.
- We meet six times a year with our base of operations out of Beijing and San Francisco.
- Our network spans the entire globe, so it doesn’t matter where you are, as long as you are doing something game-changing, we want to help you realize your dream.
- We are not searching for the next technology revolution because it is already here. We are searching for the next entrepreneur to lead it.