HP Tech Ventures, the corporate venture arm of HP Inc, has announced that it will be investing in The Venture Reality Fund.
The announcement marks HP’s first strategic move into the VR/AR space.
The fund, also known as The VR Fund, is one of the most active and experienced venture investors in the VR/AR sector. It has a portfolio of a wide range of early-stage startups developing infrastructure, tools, platforms, content and apps in the VR/AR eceosystem.
“AR/VR is one of the most transformative categories in today’s technology landscape, and The VR Fund is one of the leading players in this ecosystem,” said Andrew Bolwell, Global Head of HP Tech Ventures.
“We are excited to be an investor and look forward to working closely with The VR Fund to bring amazing new immersive experiences to market.”
An ‘early believer’
The VR Fund will help HP gain early access to leading technologies and commercial applications in their target markets.
HP’s target markets are VR/AR technologies with applications in the office, retail, healthcare, manufacturing and education sectors.
The VR Fund, in turn, will benefit from HP’s product portfolio, global presence and go-to-market strategies.
The partnership represents the latest part of HP’s strategy to grow a network of next-generation technologies. As well as mixed reality applications, HP is looking at content distribution platforms, gaming platforms, head-mounted displays and mobile solutions.
“HP has a rich history of delivering innovative technology and was an early believer in the vast potential for mixed reality to transform consumer and commercial markets,” said Marco DeMiroz, co-founder and general partner of The VR Fund.
“We are excited to have HP Tech Ventures as a key investor in our fund and look forward to working closely with their team to introduce new applications for corporate innovation and productivity while enhancing the customer experience and product development.”