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New VC firm Eleven Ventures opens in California

Investment firm wants to focus on start-ups in VR, AR, esports and games development

A new venture capital company is open for business over in the United States.

Eleven Ventures is the latest firm to offer funding and support to developers, with the intention of concentrating on start-ups that specialise in "high-growth sectors" such as esports, virtual and augmented reality, and games development, according to GamaSutra.

The company is based in Palo Alto, California. It was co-founded by Michael Howse, a former exec from AMD and 3dfx, and Greg Ballard, who previously held senior positions at Glu Mobile and Warner Bros.

The pair are keen to stress that Eleven Ventures aims to offer something different to other VCs, hoping to "[establish] a new co-creation model for investment and acceleration."

"We bring our own operating experience to the table with founding teams and contribute to their work as if we were one of them," said Howse in a statement. 

"And we will be. We also invest, but we do so because we're involved, not to become involved."