Internet company Yahoo Japan formed a partnership with US-based venture capital fund Venture Reality Fund on Wednesday that will involve co-investing in starups.
Venture Reality Fund focuses on early-stage investments in augmented reality (AR), virtual reality (VR) and mixed reality technology developers. It will provide Yahoo Japan with sector insights and early access to startups.
The fund’s portfolio companies will also look to benefit from Yahoo Japan’s regional expertise in internet commerce and consumers.
Marco DeMiroz, co-founder and general partner of Venture Reality Fund, said: “Yahoo Japan’s investment will help cultivate and scale new technologies and applications that can transform content consumption and commerce for the consumer.”
Yuichiro Tanakamaru, corporate development manager of Yahoo Japan, added: “We are excited to partner Venture Reality Fund to accelerate the growth of some of the world’s most promising AR and VR technologies.
“We believe that AR and VR have the potential to transform consumer behaviours for media, shopping, social interaction and other content and commerce dimensions, which will inevitably drive substantial economic growth across the globe.”