Long Beach (CoinChapter): Theta Network has announced the private equity investors in its latest Enterprise Validator Node. Sierra Ventures, Heuristic Capital, VR Fund, and GFR Fund have staked more than $100M towards the Node. In total, these funds have over $2 billion in assets under management.
Sierra Ventures is an early-stage venture firm investing globally with a focus on Next Generation Enterprise and Emerging Technologies. The company additionally has over three decades of experience and billions of assets under management. Managing partner Ben Yu noted how they have long seen potential in Theta.
“We were one of the earliest funds to see the potential in Theta, investing in the company’s convertible Seed round in 2016. The massive strides that Mitch [Liu] and the entire team made since affirm our confidence in Theta Network and we continue to support their groundbreaking blockchain technology by participating as an Enterprise validator,” Yu added. “We look forward to 100x growth as Theta transforms the media and entertainment industry.”
Heuristic Capital Partners is an early stage hardware focused Venture Capital fund. They have already made investments in companies such as Lucid, HingeHealth, Bend Labs, Blumio, and NanoCore.
Ren Du Has Been Impressed With Theta Network’s Market Traction
Managing Director Ren Du sees Theta as a major part of the future of the internet. “Theta’s global decentralized edge network will be a key component for Web 3.0 video and data delivery,” he noted. “We see massive growth potential in the gaming and entertainment industries. And how distributed technologies like Theta Network can disrupt these multi-billion dollar industries.”
“We’ve been impressed with Theta’s market traction and rank the company as one of our top investments in our portfolio.”
The Venture Reality Fund aims to drive innovation and investment at the intersection of immersive, spatial, and intelligent computing for consumer and enterprise sectors. They have invested in the likes of Epic Games, Beat Games, and Spaces.
GFR Fund is a venture capital fund that invests in early-stage virtual and augmented reality startups. They are managed by GREE VR Capital, an affiliate Division of publicly traded GREE Inc. of Japan. GFR Fund is also viewed as one of the global leaders in the mobile gaming industry.