The landscaping company, together with investment firm Hejun Zhengde, has launched a virtual and augmented reality fund that is targeting a $15m first close.
China-based garden landscaping product manufacturer Palm Landscape Architecture has launched a venture capital fund that will invest in virtual reality technology, China Money Network reported today, citing a disclosure document.
Investment firm Shenzhen Hejun Zhengde Asset Management will act as general manager for the fund, which has targeted RMB100m ($15.3m) for its first close.
The fund will invest in virtual reality and augmented reality companies, a sector in which Hejun Zhengde has funded 10 companies, and will provide capital at seed and early stage.
Although the sector may not initially appear to be a strategic fit for Palm Landscape, utilising it for visual mapping would hypothetically help the company in its quest to build environmentally friendly urban centres.
