Great news for VR startups and entrepreneurs! Alvin Wang Graylin, the President of VR for China at HTC, will lead a collaborative $10 billion fund, called the VR Venture Capital Alliance, that essentially just secured the future of the VR industry. Announced today at the Mobile World Congress Shanghai, the fund is meant to provide resources to entrepreneurs and startups that hope to use VR to "revolutionize entire industries", according to the VRVCA's website.
The alliance boasts 30 investment entities that include big names like HTC Vive (of course), Unity VC, Hyperion Media Group, Sequoia Capital, The VR Fund, Immersion Ventures, Infinity Venture Partners, and China eCapital. With base offices in Beijing and San Francisco, the VRVCA could create a direct link for Silicon Valley entrepreneurs to do business in China. This opens a massive market that is already a hotbed of VR activity.
The fund will meet six times per year, and will accept pitch decks from VR and AR companies around the globe. Moodru will definitely be submitting a pitch deck.