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Coming as a big shot in the arm to the global prospects for virtual reality and augmented reality, The Venture Reality Fund — a leading global venture capital firm focused on early-stage investments in the augmented, virtual and mixed reality spaces — and Yahoo! Japan Corporation are forging a new partnership.

VRJournal has learned that the companies are spearheading a new joint effort to inspire innovation and accelerate growth in the AR and VR industries.

“Yahoo! Japan and its leadership team are known for their commitment to continuous innovation and enriching services for their users and community,” said Marco DeMiroz, co-founder and general partner of The VR Fund, in a provided media statement. “Immersive technologies in AR and VR have great potential to revolutionize business, empower consumers, revitalize the economy and drive awareness and positive change in the world. Yahoo! Japan’s investment will help cultivate and scale new technologies and applications that can transform content consumption and commerce for the consumer.”

So how will the effort play out? Per the provided statement:

Under the partnership, The VR Fund will provide Yahoo! Japan deep insights to the AR/VR sector as well as early access to leading AR and VR innovators, which will drive Yahoo! Japan’s investment into AR/VR startups and potential business development. The VR Fund’s investment portfolio will, in turn, benefit from Yahoo! Japan’s unparalleled insights into internet business and consumers in Japan.

“We’re excited to partner with The VR Fund to accelerate the growth of some of the world’s most promising AR and VR technologies,” said Yuichiro Tanakamaru, corporate development manager of Yahoo! Japan. “We believe that AR and VR have the potential to transform consumer behaviors for media, shopping, social interaction, and other content and commerce dimensions, which will inevitably drive substantial economic growth across the globe. We look forward to working closely with The VR Fund to identify and promote the best and the brightest in the space.”

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