Last week FoundersPad announced the formation of its new fund. This week that fund announced its first investment in ZeroTransform, a Bend-based virtual reality gaming startup. To quote our good friend Ferris Bueller, life moves pretty fast.
FoundersPad has actually been mentoring ZeroTransform for the past year. The early-stage venture fund joins other investors in the startup, including Bend-based Cascade Angels. Neither fund announced investment amounts, but ZeroTransform COO Scott Bayless told the Bulletin earlier this year that he was hoping to complete a $500,000 round by November.
“This is an exciting market with a tremendous amount of potential. ZeroTransform has not only been an innovator in bringing immersive cinematic VR games to life, but is well positioned to be one of the premier game developers in this emerging market,” says Chris Capdevila, Principal at FoundersPad. “With the VR hardware wars heating up, significant improvement in the user experience and dropping prices, VR gaming is becoming a sought-after reality for the mass market.”
“Virtual Reality brings people closer than ever before into a world beyond imagination. Human perception can be seamlessly integrated into a digital existence. Never before has 3D content been so physical and so immersive than in VR. We are at the forefront of innovation in uncharted territory where new experiences are waiting to be invented. Dreams become reality and reality becomes dreams,” Moravetz says.
Bayless observes, “I’ve seen many teams struggle with that first transition from a great concept to a real product backed by goals, a strategy and a plan with focused execution. FoundersPad has been a tremendous source of insight, feedback and operational experience for ZeroTransform during that transition.”“This is what the FoundersPad model is all about,” says Jason Moyer, Fund Manager at FoundersPad, “We identify the key areas where the start-up needs help and use our extensive network to find the right people to propel them to the next level.”
You can reach Kelly by email at [email protected].