Venture Reality Fund II Adds Orange to Investor Roster
The Venture Reality Fund (VRF) has been an important part of the XR market, investing in some of the best and most innovative companies. Today, the venture-capital firm has revealed that Orange – via its holding company Orange Digital Investment – is investing in the new Venture Reality Fund II.
With the aim to reach at least $50 million USD, Venture Reality Fund II is looking to invest in at least 35 XR companies taking advantage of 5G. Orange is the first European telecommunications company to invest, building ties as the XR industry looks towards 5G as an important stepping stone to wider adoption in both consumer and enterprise markets.
“We are delighted and honoured to have Orange as a strategic investor in Fund II that will invest in innovative startups to showcase the combined power of 5G networks with XR and AI,” says Marco DeMiroz, co-founder and General Partner of VRF in a statement. “As Orange’s 5G networks deliver unmatched customer experience they also offer brand new services and entertainment for both consumers and enterprises leveraging AI and XR.”
Ultra-high-speed networks (including 5G) and Edge Computing are going to be vital parts to ensure virtual reality (VR) and augmented reality (AR) entertainment, training, education, research and collaboration isn’t restrictive, by either cables or location. For example, smart viewers are currently cabled to a smartphone with the eventual goal of being able to send all that data wirelessly.
“Orange’s investment in the Venture Reality Fund II, alongside other major players in the telecoms sector, is an opportunity to create a partnership with a management team that has demonstrated its expertise and agility in a booming ecosystem, which will help to enrich Orange’s offers,” adds Maï de La Rochefordière, Deputy CEO of Orange Digital Investment.
As the VRF continues to develop Venture Reality Fund II, adding more investors and channelling that money into the industry, VRFocus will keep you updated.
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