Farmville, HTC Vive creators behind new $10M seed fund for virtual reality

Serial entrepreneur Amitt Mahajan, the co-creator of FarmVille, believes that the best opportunity for game startups is at the beginning of a new platform. That’s why he has teamed up with former HTC executive Phil Chen and startup veteran Paul Bragiel to create Presence Capital, a seed fund to finance games and apps for virtual reality and augmented reality.

VR companies have already raised a lot of capital, with 234 companies bringing $3.8 billion in the past five years, according to a report by VB Profiles.