Gree VR Capital, a enterprise funding division of Japan’s cell recreation writer Gree, has accomplished its first fund for digital actuality investments and is rebranding in order that it will possibly put money into the broader augmented actuality and blended actuality sectors.

Gree invested $18.3 million in 14 VR startups and three augmented actuality firms in its first fund, which is now closed. The second San Francisco-based fund might be referred to as the GFR Fund and can put money into quite a lot of sectors going ahead.

The unique Gree VR Capital fund was established in April 2016 and has invested in firms equivalent to Littlstar, VR Chat, Spaces, and Immersv.

“We are dedicated to offering the experience and steerage wanted to assist our portfolio firms work together with different buyers, and drive strategic partnerships with U.S. and Asian companies that may assist them develop and succeed,” stated Teppei Tsutsui, CEO and managing director of Gree VR Capital, in an announcement. “Based on our observations of the rising AR market, we’re wanting carefully at shopper mainstream in addition to enterprise functions equivalent to AR Cloud, navigation, promoting, social media, and shopper content material by way of smartphones or AR glasses.”

To date, the GFR Fund has invested in 17 early stage firms, primarily based primarily within the North American VR/AR/MR market. Now the fund is actively looking for AR startup firms for funding, with a specific deal with cell AR platforms, AR Cloud, shopper AR functions, and enterprise AR, together with AR glasses.

Above: Left to proper: – Teppei Tsutsui of Gree VR Capital, Kevin Zhang of Upfront Ventures, Tipatat Chennavasin of The VR Fund, and Toby Zhang of CRCM Venture Capital.

Image Credit: Gree

“GFR invested in our [first round] spherical and has been instrumental in serving to our firm develop each within the U.S. and Asia,” stated Tony Mugavero, CEO of Littlstar, a VR content material community and one among GFR’s portfolio firms, in an announcement. “They introduced us to Japan in 2016 and launched us to just about a dozen accredited buyers, helped us safe Sony and others as new buyers, and lined up a talking engagement for us on the Japan VR Summit. The connections and visibility that GFR was capable of deliver to us has been essential in making Littlstar the success that it’s and has afforded us the chance to increase into new markets.”

Other investments for the Gree VR Capital fund embody Insidemaps, YBVR, Immersv, Experiment 7, TheWaveVR, Sturfee, InsiteVR, Streem, DottyAR, Upload, and Torch 3D.

In addition to Gree, the unique fund’s restricted companions included Colopl VR Fund, Mixi, Maruhan, Yahoo Japan, and Akatsuki.

GFR might be internet hosting an internet pitch occasion for early stage AR firms to get in entrance of buyers. In an e mail, Tsutsui stated he’s bullish on standalone VR headsets popping out this yr, and he’ll proceed to put money into VR as up to now.

“We consider that the AR market, particularly cell AR, is lastly prepared for shoppers in 2018 — with Google’s ARCore and Apple’s ARKit enabling builders to create killer content material,” Tsutsui stated. “GVR Fund is likely one of the early buyers in VR/AR/MR. We are very dedicated to supporting the market throughout VR/AR/MR and wish to see the trade, in addition to entrepreneurs within the area, succeed.”

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This article sources info from VentureBeat