Facebook has acquired virtual reality system developer Oculus VR for $2bn, and exiting investors will include Formation 8, which is backed by LPs including LS and Korea Telecom.
Asian conglomerate-backed venture capital firm Formation 8 is among the investors in line for a lucrative exit from US-based virtual reality gaming company Oculus VR after Oculus agreed to a $2bn acquisition by social networking company Facebook.
Facebook is paying $400m in cash and will provide 23.1 million shares, valued at roughly $1.6bn over the last month. An additional $300m in cash and stock could be provided if Ocular VR passes certain milestones.
Founded in 2012, Oculus is the developer…
