Today South Korean developer YJM Games has announced a partnership with The Venture Reality Fund (The VR Fund), providing investment alongside building a network to expand their global virtual reality (VR) plans.
Through YJM Games’ US subsidiary, YJM Games USA, the company plans to make quick strategic investments in VR, augmented reality (AR) and mixed reality (MR) specialised businesses, keeping up with the latest trends in Silicon Valley, as well as taking a leading role in its home Asian market.
“We are very pleased and honored to have YJM Games as our first partner in Korea,” says Marco DeMiroz, co-founder and general partner at The VR Fund. “In terms of the VR and AR market size, we believe that it is a good opportunity to communicate innovative VR and AR content through the alliance with YJM Games in major Asian markets, while also promoting Asian VR and AR content to the global market.”
The VR Fund has become a major contributor to VR startups, having invested in Owlchemy Labs, developer of Job Simulator; TheWaveVR, which is currently in the process of developing an immersive music platform; and SLIVER.tv, a specialist in live streaming esports in VR, recently announcing 14 upcoming tournaments for 2017. The VR Fund is also a member of the Virtual Reality Venture Capital Alliance (VRVCA), a $10 billion USD global investment consortium of 30 members, featuring Softbank, HTC Vive, Colopl VR Fund, Immersion Ventures, Sequoia Capital to name a few, formed to aid long-term growth in the VR industry through sharing and investing in both technology and content creators.
“We have already participated in the investment of The VR Fund by leading companies in the US and Japan,” says YJ Min, CEO of YJM Games. “We have participated in this fund LP with the best expertise in VR around the world, I hope to grow together.”
VRFocus will continue its coverage of The VR Fund, reporting back with any further announcements.