Despite Facebook’s $2 billion guess on Oculus and virtual reality products from Samsung, Sony and Google, VR hasn’t gone mainstream.
But the founder of HTC’s Vive headset business is considerably more bullish than ever.
Phil Chen still left HTC found in 2015 and is now somebody at Li Ka-Shing’s Horizons Ventures and the co-founder of a good VR-focused fund called Presence Capital found in China. In 2016, Presence was the most effective investor in virtual and augmented truth (AR) start-ups, regarding to CB Insights data.
Chen isn’t at most bothered that client VR has sputtered out from the gate.
“The form factor isn’t there however,” Chen said. “The devices have been heavy, bulky, generate too much heat, all of that. There was the hype and then a trough, which we anticipated.”
Presence has made 40 investments, with the last 20 going to VR and AR start-ups that are pursuing opportunities found in areas like well being, education and corporate training. These start-ups are making money and increasing follow-on rounds of financing successfully, Chen said.
The Presence portfolio includes Strivr Labs, a company helping pro athletes and retail employees at Walmart experience scenarios in a virtual world before they have to try to make a play on the field or a hardcore decision at their store.