While the smartphone industry continues to struggle, Virtual Reality (VR) industry has grown out at a very fast pace. In the pursuit, Taiwanese tech giant, HTC, has shifted most of its resources to the VR business. In an attempt to boost its VR business, HTC has decided to shift its Vive business into a new self-owned subsidiary.
Recently, HTC partnered with 28 venture capitalists to establish the VR Venture Capital Alliance. The company stated that its member firms have nearly $10 billion of capital to invest. However, this doesn’t depict how much the company will plunk down for VR startups. Venture capital firms which participated in the funding round included Matrix partners and Sequoia Capital.
