Korea's Moiin launches $100m VR fund

It comes as Moiin readies its first mass consumer products, including a project known as Oasis City, which is touted as the first fully immersive VR ecosystem, as well as motion-tracking suits and gloves. The gloves and suits, which have been developed in partnership with the Korean Institute of Science & Technology, are planned to be available for sale next year.

The fund, which will focus on small start-ups, was unveiled as part of a televised promotional event for Oasis City that featured an endorsement from Eric Schiermeyer, the former CTO of Myspace and co-founder of mobile gaming giant Zynga. According to a statement, Schiermeyer characterized the relevant technology as an important key to changing global gaming trends.

VR, augmented reality, and related wearables have continued to edge toward mainstream acceptance in recent years, but financial returns are not expected come quickly for investors. Other funds focused on this segment have been launched by the likes of IMAX Corporation, Baidu and HTC, the latter of which said it had partnered with the Shenzhen regional government on a $1.5 billion vehicle. 

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