Dentsu's Venture Capital Fund Invests in U.S. VR Sports Startup
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The venture capital fund of Japanese ad giant Dentsu Inc. has invested in a small U.S. virtual reality startup whose technology can give sports spectators the sensation of watching a game from a stadium VIP suite, even if they’re just lazing on the couch at home.
Dentsu would not provide details about the size of the investment. The New York-based startup, called LiveLike, says it has 34 employees.
Tokyo-based Dentsu, founded in 1901, last year launched Dentsu Ventures to back startups, with total fund capital of over $49 million. It has invested in projects ranging from U.S. robotics startup Jibo to a company called Tynker that teaches kids how to code. The fund is looking for projects that could build future business opportunities for Dentsu, said Kotaro Sasamoto, Dentsu Ventures’ managing partner.
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