We have been active angel investors in the technology space over the last twenty years, investing recently in startups such as Shyp, Luxe, Buddy Media (sold to Salesforce.com), Ticketfly, (sold to Pandora), and 30+ more. Additionally, we are both seasoned entrepreneurs that have built several companies.
The syndicate plans on investing in startups in the virtual reality space. The virtual reality sector is a potential trillion dollar market with opportunities in gaming, audio, cameras, social, healthcare, commerce, haptic, 3D lenses, entertainment, etc. We will be investing with every single deal.
We are not the only ones to think this obviously. In the past year, Google, Apple, Facebook, Qualcomm, Sony, Microsoft, Disney, and every other major technology company has made significant investments in the sector.
And while it's still inning one, the consumers are noticing. The first version of the Oculus Rift (sold with the Samsung S7) sold out in 48 hours, with 200,000 developers already registered to develop applications for it. Goldman Sachs estimates the revenues in the market could be as high as $182 billion by 2025.
Throw on any reasonable technology multiple to that and it's the next trillion dollar market after the Internet in the 90s and mobile / app store over the past decade.
We will be looking at several filters on every company:
- How will the company fit our diversification over the virtual reality sector?
- Is the CEO a seasoned technologist and entrepreneur?
- We will look for co-investors also seasoned in the sector.
We will provide quarterly updates on both the sector and the companies we invest in.
We will syndicate all virtual reality deals where we can get an allocation for the syndicate.