New VR venture capital supergroup gathers $10B to invest in VR dev

If you're at all interested in VR development, you should know that a bunch of investment firms and VR/AR companies (everyone from HTC to Unity VC) have joined together to form the Virtual Reality Venture Capital Alliance -- and it has $10 billion to spend on funding VR projects.

That's a remarkable chunk of change, which is saying something since we regularly report on VR game makers and hardware manufacturers making multi-million dollar investment deals.

But investments in virtual- and augmented-reality companies have increased significantly over the past few years, so it's not surprising that a number of investors have pooled their resources to create the VRVCA.

The Alliance is relatively new and has yet to announce any funding deals, but it is currently accepting submissions for new projects. It convenes six times a year in both Beijing and San Francisco, and is open to funding everything from game development to hardware design -- it just has to involve VR, AR, or mixed reality technology in some fashion.