XR Basefund never existed (Updated)

CORRECTION: December 18, 2019. Since the publication of this article, it has become known to the author that the “XR Basefund” has never existed as a venture capital fund, nor was any legal entity or company ever established for serving this purpose. We apologize for the error. 

A new early stage VR/AR startup fund has announced that it will launch in Europe by the end of the year. Coined the XR Basefund, the €50 million-sized fund is a co-venture between Ariadne Capital, 2SQRS, and the VRBASE. The XR in the name stands for “extended reality” which has become an abbreviation that more and more people in the industry (including myself) are using to wrap-up the immersive spectrum of VR, AR and MR under a single breath.