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§ Venture Capital · Burlingame, CA, USA
The Venture Reality Fund invests in AI and Spatial Computing to empower our Digital Future
Key people at The Venture Reality Fund/VRF.
The Venture Reality Fund is a deep tech venture capital firm investing in companies developing Spatial and Physical AI technologies. Its investment strategy covers foundational infrastructure, development platforms, immersive content, and advanced applications. The firm aims to support innovations poised to define the next era of computing by enabling more intuitive and interactive digital experiences.
Co-founded in 2016 by Tipatat Chennavasin and Marco DeMiroz, the fund emerged from their combined expertise. Chennavasin, with a background in immersive content and co-founding Big Head Mode, Inc., joined forces with DeMiroz, a technology and investment executive who previously led PlayFirst, Inc. Their initial insight into the potential of virtual and augmented reality evolved into their current strategic focus on Spatial and Physical AI.
The Venture Reality Fund partners with founders, providing capital, mentorship, and strategic connections. Its mission is to accelerate early-stage companies in bringing industry-defining technologies to market. Through this approach, the firm cultivates the Spatial and Physical AI ecosystem, actively shaping the future of computing and digital interaction.
Key people at The Venture Reality Fund/VRF.
The Venture Reality Fund/VRF has 2 tracked investments across 2 companies. The latest tracked deal is $12.0M Series A in Phiar Technologies in September 2021.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Sep 1, 2021 | Phiar Technologies | $12.0M Series A | Michael Remmes | 2048 Ventures, Defy Partners, FTX Ventures, Jump Capital, Norwest Venture Partners, Telstra Ventures, The Venture Reality Fund, Cambridge Mobile Telematics, GFR Fund, Norwest Venture Partners, Telenav, The Venture Reality Fund/vrf |
| Oct 1, 2020 | Obsess | $3.0M Seed | Jump Capital, The Venture Reality Fund/vrf, WXR Fund | The Venture Reality Fund, JIM Mclean |
# The Venture Reality Fund/VRF
The Venture Reality Fund (VRF) is a leading early-stage venture capital firm dedicated to empowering the digital future through investments in artificial intelligence (AI), spatial computing, and immersive technologies like augmented reality (AR), virtual reality (VR), and mixed reality (MR). Founded in 2016 and based in Palo Alto, California, VRF’s mission is to accelerate the development of the next-generation internet—the Metaverse—by backing startups that are building the infrastructure, tools, content, and applications that will define the future of computing.
VRF’s investment philosophy centers on identifying and supporting visionary entrepreneurs who are leveraging spatial and intelligent computing to transform consumer and enterprise experiences. The firm focuses on sectors including AR/VR/MR, AI, 5G, healthcare, consumer products, and enterprise solutions. With a founder-friendly approach, VRF provides not only capital but also mentorship, strategic relationships, and operational support, helping startups scale and innovate. Its impact on the startup ecosystem is significant, having backed notable companies such as Baobab Studios and Owlchemy Labs, and fostering a vibrant community of innovators in the immersive technology space.
The Venture Reality Fund was founded in 2016 by James Schaepe and other partners with a vision to shape the future of computing through immersive technologies. The firm emerged at a time when AR, VR, and spatial computing were beginning to gain traction, and the potential for these technologies to redefine how people interact with digital content was becoming clear. VRF’s early focus was on VR, but as the landscape evolved, the firm expanded its scope to include AR, MR, and AI, reflecting the growing convergence of these fields.
Over the years, VRF has built a reputation for being at the forefront of the spatial computing revolution. The firm’s evolution has been marked by a commitment to staying ahead of technological trends and supporting entrepreneurs who are pushing the boundaries of what’s possible. Its network of limited partners and industry experts has helped VRF become a trusted partner for startups navigating the complex and rapidly changing world of immersive technology.
VRF is riding the wave of a major technological shift as spatial computing and immersive technologies move from niche applications to mainstream adoption. The convergence of AR, VR, MR, and AI is creating new opportunities for innovation across industries, from entertainment and education to healthcare and enterprise. The timing is critical, as advancements in 5G, cloud computing, and AI are enabling more powerful and accessible immersive experiences.
Market forces are working in VRF’s favor, with increasing demand for digital transformation and remote collaboration driving interest in spatial computing solutions. VRF’s investments are helping to shape the infrastructure and ecosystem that will support the growth of the Metaverse, influencing how people interact with digital content and each other in the years to come. By supporting startups at the cutting edge of these technologies, VRF is playing a pivotal role in defining the future of computing.
The future for The Venture Reality Fund looks bright as the demand for immersive and spatial computing technologies continues to grow. As the Metaverse becomes more integrated into everyday life, VRF’s portfolio companies are well-positioned to lead the way in creating new experiences and applications. The firm’s focus on AI and spatial computing will remain crucial as these technologies become increasingly intertwined.
Trends such as the rise of remote work, the expansion of digital entertainment, and the growing importance of virtual collaboration will shape VRF’s journey. The firm’s influence is likely to expand as it continues to back innovative startups and foster a vibrant ecosystem of creators and entrepreneurs. By staying at the forefront of technological change, VRF is not just investing in the future—it’s helping to build it.
In summary, The Venture Reality Fund is a key player in the digital revolution, empowering the future through strategic investments in AI and spatial computing. As the world becomes more immersive and interconnected, VRF’s impact will only grow, shaping the way we live, work, and play in the digital age.
