Newly-formed VR Venture Capital Alliance to invest $10bn in VR/AR devs

Newly-formed VR Venture Capital Alliance to invest $10bn in VR/AR devs
Matthew Jarvis

By Matthew Jarvis

June 30th 2016 at 9:44AM

Collaboration between 30 major players in space, including HTC and Unity, will accept pitches six times a year

30 big names in the virtual reality sector have come together to launch a venture capital supergroup.

The founders of the Virtual Reality Venture Capital Alliance include Vive headset maker HTC and engine firm Unity, as well as numerous investors.

Together, the Alliance says it will offer startups working in the VR, AR and mixed reality spaces a combined $10 billion in funding – spanning both software and hardware.

The group will meet up six times a year in Beijing and San Francisco, and give devs the same number of chances to pitch their projects.