High Fidelity Gets $22M Fund To Grow VR Platform

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High Fidelity Gets $22M Fund To Grow VR Platform
December 13, 2016

High Fidelity just got a major investment of $22 million, the Wall Street Journal reported yesterday but didn't get much notice, since it was listed deep in a roundup of Form D regulatory filings.

 

"Investment was led by IDG Capital and new investor Jim Breyer / Breyer Capital," High Fidelity founder and CEO Philip Rosedale just confirmed to me."We'll have more to say as we get farther along with the beta!"

 

$22 million is a pretty big cash infusion; in terms of burn rate, you could, say, hire over 200 new employees for a year with that kind of money (or 100 for two). Looks like High Fidelity is aiming for a major push at the mass market now.

 

Also interesting when you look at what companies this new investor, Breyer Capital, has in its portfolio:

Marvel and the movie developer Legendary (Dark KnightInterstellar, other massive hit). So also looks like Philip's new investor sees the consumer entertainment appeal to High Fidelity -- not to mention VR.

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