Gree's virtual reality fund is rebranding to indicate that it is more inclusive of augmented and mixed reality projects.

The GFR Fund, as it will be known, is an $18 million fund which provides investment for developers working in VR, AR and MR. It will be focusing on mobile AR platforms, AR glasses, AR Cloud and consumer AR applications for future investments when it starts up again later in 2018.

Gree will rebrand its program following the completion of its first round of funding. In total, it has committed $18.3 million across 17 companies, primarily in North America.

Killer content

"We are committed to providing the expertise and guidance needed to help our portfolio companies interact with other investors and drive strategic partnerships with U.S. and Asian corporations that can help them grow and succeed," said Gree VR Capital CEO and managing director Teppei Tsutsui.

"We believe that the AR market, especially mobile AR, is finally ready for consumers in 2018 with Google's ARCore and Apple's ARKit enabling developers to create killer content."

The initial Gree VR Fund was established in April 2016 with a modest offering of $12 million. It was looking to invest up to $500,000 in early-stage VR companies at the time.