Japanese publisher Gumi to invest in new $80 million VR fund

Newsbrief: Japanese mobile publisher Gumi will invest in a new San Francisco-based VC fund looking to raise $80 million to build out the virtual reality industry in the West.

An early partner, Gumi will invest an undisclosed amount into the aptly named 'The VR Fund' through its U.S. subsidiary, Gumi America.

The VR Fund was founded by PlayFirst CEO Marco DeMiroz, who believes the Gumi deal will establish the fund as "the premier venture investor across the entire virtual and augmented reality ecosystem."

If it manages to reach its $80 million target, The VR Fund will outgrow Colopl's $50 million VR Fund, which was unveiled by the Tokyo-based studio late last year.