VRTech Foundation to finance Russian VR startups

The founder of Digital October, Georgy Tushinsky, and former Yandex Marketing Communications director Igor Lutz are creating a VRTech fund with a volume of 300 million rubles. They plan to invest in Russian and foreign VR startups.

In the coming year, VRTech funds will finance the work of 3-5 companies. The investment amount will be 10-30 million rubles for a startup. These are approximate figures: the fund will invest more if the project requires it.

The geography of investments is Russia, the USA, Asia and Europe. The Foundation is going to invest in projects that are dedicated to improving business efficiency, sports broadcasts and interactive entertainment.

According to Tushinsky, the profitability of such a business in a year can grow by 30% due to the rejection of the costs of creating a real product.

Source: RBC

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