HTC Vive spearheads $10bn VR VC group

27 firms have joined with HTC Vive in the VR Venture Capital Alliance

By James Brightman.Published Thursday 30th June 2016, 1:58pm GMT

At the GSMA Mobile World Congress in Shanghai HTC Vive announced a $10 billion venture capital group. As noted by TechCrunch, the VR Venture Capital Alliance (VRVCA) technically has $10 billion in "deployable capital," when combining the amount that the nearly 30 firms have on hand to invest, but that doesn't mean $10 billion will necessarily be spent on VR.

That being said, the VRVCA aims "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 group adds, "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."

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The VRVCA intends to conduct meetings every couple of months in San Francisco and Beijing and will listen to pitches from any companies looking to raise money for innovative VR ideas, gaming or otherwise. Importantly, VRVCA is looking not just at VR, but also augmented reality and mixed reality startups "of any size from anywhere around the world."

Developers or startups that wish to submit a pitch deck to the VRVCA can get more information here.

Read article on GamesIndustry.biz