Some big-time investors are going to bat for emerging technologies such as augmented and virtual reality with a new venture capital firm: Eleven Ventures. And no, that name doesn’t mean they’re just investing in 11 companies — but we’re still waiting for confirmation on whether their ventures go all the way up to 11.
The new fund comes from two game industry luminaries — Michael Howse and Greg Ballard. They’re focusing on emerging technologies and early-stage companies, and the two can point to their successes like Glu Mobile and 3Dfx Interactive, which created more than $2 billion in valuations.
So, what does this mean for your VR company? Sure, you might not be able to tap into Eleven Ventures’ cash spigot, but it does show that despite some folks being down on the AR/VR sector — and a high-profile company like castAR going belly up this week — others are willing to dive into these emerging techs and invest in interesting and innovative ideas.
And after we saw how VR took a larger role at the Electronic Entertainment Expo game-industry show earlier this month, along with big changes afoot for Pokémon Go, AR and VR still have plenty of good things going on even as it experiences some rough waves in 2017.
For AR/VR coverage, send news tips to Dean Takahashi and Jeff Grubb (for those that cross over into PC gaming). Please send guest post submissions to Rowan Kaiser. Please be sure to visit our AR/VR Channel.
—Jason Wilson, GamesBeat managing editor
P.S. To paraphrase Clemont in Pokémon XY, “the future is now thanks to science! And … augmented reality.”
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Game industry veterans Michael Howse and Greg Ballard are starting Eleven Ventures, a venture capital firm that will focus on early-stage investments in emerging game technologies. The executives played leading roles at companies such as Bigfoot Networks, Warner Bros. Interactive Entertainment mobile gaming studio, Glu Mobile, and 3Dfx Interactive. They have collectively raised $300 million […]
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