The Venture Reality Fund/VRF

The Venture Reality Fund (VRF) is a specialized venture capital firm based in Burlingame, California, with a dedicated focus on early-stage companies at the intersection of artificial intelligence (AI), augmented reality (AR), and virtual reality (VR). Co-founded by industry veterans Tipatat Chennavasin and Marco DeMiroz, VRF positions itself as a strategic partner to startups that are building foundational technologies and applications for the future of computing. Their investment thesis centers on identifying disruptive innovations that leverage immersive technologies to create new user experiences and enterprise solutions across various sectors.

VRF primarily targets seed and Series A funding rounds, often taking a lead or co-lead position in their investments. The firm is known for its hands-on approach, providing not just capital but also strategic guidance, industry connections, and operational support to its portfolio companies. While specific check sizes can vary based on the stage and needs of the startup, typical initial investments from VRF range from approximately $250,000 to $1.5 million. This range allows them to support nascent ventures through critical early development phases and help them achieve key milestones before attracting larger institutional rounds.

The firm has successfully raised multiple funds to support its investment activities within the immersive tech ecosystem. For instance, The Venture Reality Fund announced its first dedicated fund, VRF Fund I, in 2016, reportedly closing at around $15 million. This was followed by VRF Fund II, which was reported to have a target of $20 million in 2018, further solidifying their commitment to the immersive tech space. Their portfolio includes notable companies such as Spatial (acquired by Zoom), LIV, Finch, and Rec Room, demonstrating their ability to identify and nurture promising ventures that have achieved significant traction or successful exits. VRF's deep expertise in the AR/VR/AI ecosystem allows them to provide unique value beyond just capital, fostering growth and innovation within their specific niche.