Razer is probably the most eponymous gaming peripherals brand which millennials are definitely familiar with, gamer or not.
Just two weeks ago, the tech world welcomed a new addition to the venture capital (VC) sphere when Razer announced a new initiative to launch its own VC startup to help fund other startups, a plan which was brought to light late in 2015.
Called zVentures, it is created with a directive to assist startups who were working in industries such as Internet of Things, big data analytics, virtual and augmented reality, robotics, Android games and many more.
Two weeks since the announcement, zVentures is officially in business.
zVentures Is Finally Here
According to the official press release, zVentures is currently looking to identify and exploit investment and funding opportunities with innovative new businesses and emerging technologies in these areas:
- Internet of Things
- Software and Analytics
- Advanced manufacturing and engineering
- Gaming software technology
- Virtual Reality (VR) and Augmented Reality (AR)
- eSports
- Robotics
To be administered out of Razer’s offices in San Francisco and Singapore, Razer’s CEO Min-Liang Tan and his team will have around US$30 million on the ready to support any promising early-stage tech startups that meets their requirements.
Out of this reserve, US$5 million will go into Virtual Reality startups, while another US$5 million will be set aside for Android gaming development for startups to be parked under Razer’s OUYA brand.
These startups will have the opportunity to not just develop their own products, but also have a role to play within the larger Razer ecosystem.
In addition to funding, startups will potentially have access to Razer’s network of suppliers and OEMs, sales and marketing, customers and investors, as well as meet other stakeholders, industry leaders and influencers, or even just to set up a space in one of their ten offices worldwide if required.
Who knows, you may even receive some personal advice from the CEO himself.
A Non-Exclusive Partnership
Perhaps, the most important thing that Razer would like to bring across is that startups will not be tied down by Razer in any way or form.
Startups whom have successfully been invested into by zVentures are free to continue operating independently and work with other industry partners, to build non-gaming products and seek investment from third parties.
With a long history of supporting partners, third-party product and business development, Razer hopes that through this, Razer can educate, and grow a new generation of startups on the cutting edge.
CEO Min-Liang Tan recently told Venture Beat that zVentures is anything but your traditional VC, as they do not have a ‘fund life’.
Having a focus of actually supporting startups rather than just throwing money at them, Razer, or specifically zVentures, is in a unique position to give contemporaneous advice and feedback to startups in real-time because they are in a similar position.
Ready to pitch your idea? Click here and attempt to impress the zVentures team in 50 words or less.
Featured Image Credit: Techcrunch