Japan-based game publisher Colopl has established a $50m fund that will invest in virtual reality companies, Venturebeat has reported.
Apart from seeking partnerships with virtual reality studios, Colopl hopes the fund will help it turn the medium into a mainstream platform on the same level of popularity as the internet or smartphones.
The fund aims to extend virtual reality beyond gaming, though Colopl has not revealed if it is targeting any specific sectors.
Colopl, which has developed several dozen games for iOS and Android, said it was hoping to get an early foot in the door of a market that is predicted to generate revenues of $150bn by 2020.
The company has already released a version of its Rune Story gift for Oculus Rift, the virtual reality headset owned by social media company Facebook.