Top 5 Venture Capital Firms Investing in Augmented Reality Startups

For founders in Augmented Reality, knowing which investors truly understand your technology is a critical first step when preparing to raise capital. Approaching the right venture capital firms—those with a history in AR, mixed reality, or spatial computing—can make all the difference.

To help you prepare, our team has put together this overview of the top VC firms investing in this space. This guide is designed to help you quickly identify relevant investors for your startup, whether you're raising a seed round or looking for a later-stage partner.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay—built for startup teams moving fast.

Key Takeaways

• Securing venture funding provides your Augmented Reality startup with the capital and specialized support required for long-term product development and market entry.
• Firms like The Venture Reality Fund (VRF), Adit Ventures, Anorak Ventures, and Parkway Venture Capital are notable backers of businesses in the Augmented Reality industry.
• If you're a startup leader that's raising or has just closed a round, Rho helps you manage your capital with fast business banking, corporate cards, and bill pay.

Which VC Firms in Augmented Reality Are Right for Your Stage?

Whether your company is in its early stages or preparing for an exit, knowing the right investors to contact is key. We've put together a quick overview of VC firms that focus on Augmented Reality, organized by the stages they invest in.

Pre-seed and Seed VC Firms in Augmented Reality

Pre-seed and seed funding are the earliest forms of institutional capital, designed to help founders turn an initial idea into a viable product and achieve early market traction. For founders in this phase, technology venture capital firms like The Venture Reality Fund, Anorak Ventures, and Rogue VC are known for backing AR companies from the very beginning.

Early Stage VC Firms in Augmented Reality

Early-stage funding, which includes Series A and B rounds, is for companies with a proven product and initial revenue, helping them scale operations and expand their market presence. Some of the most active early-stage VC firms in the AR space include The Venture Reality Fund, Parkway Venture Capital, and Adit Ventures.

Late Stage VC Firms in Augmented Reality

Late-stage funding supports established companies as they prepare for major growth, an acquisition, or an IPO, focusing on scaling proven business models. Notable late-stage venture capital firms with an interest in AR and related deep tech include Adit Ventures, Parkway Venture Capital, and Rogue VC.

Keep in mind that some venture capital firms invest across multiple stages, offering support from a company's inception through to its growth rounds. If you're exploring alternatives to equity, Rho Capital connects startups to non-dilutive funding options such as venture debt and credit lines through a fast, guided matching process.

Below is a closer look at the top VC firms investing in Augmented Reality. We've included key details on their investment stages, geographic focus, and what makes each firm a strong potential partner for founders.

1. The Venture Reality Fund/VRF

The Venture Reality Fund, or VRF, is a specialized firm that backs companies in AI and Spatial Computing. They focus on early-stage and seed investments, providing foundational capital for businesses building immersive technologies.

The firm has a clear focus on immersive and interactive technologies, with a portfolio that includes Emmy-winning animation studio Baobab Studios and enterprise training platform Strivr. Their investment in Owlchemy Labs, which was later acquired by Google, highlights their ability to spot key players in the virtual reality space.

VRF is likely a strong partner if you are a founder with a technically-focused product in the AR or VR space seeking early-stage capital. Their portfolio suggests an appreciation for companies with strong potential for both enterprise applications and consumer entertainment.

Once you've secured funding from a firm like VRF, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—can help you manage and deploy your capital efficiently.

• Investment stages: Early Stage Venture, Seed, Venture
• Industries of focus: Artificial Intelligence (AI), Augmented Reality, Gaming, Virtual Reality
• Geographical presence: Burlingame, California
• Founded year: 2016
• Notable portfolio companies: Baobab Studios, Strivr, Owlchemy Labs, Phiar Technologies
• Portfolio size: 64 investments
• Number of exits: 9

You can refer to their website here.

2. Adit Ventures

Adit Ventures is a venture capital firm that invests across multiple stages, from early-stage to secondary markets. They back companies in a wide range of technology sectors, with over $400 million in assets under management.

The firm is known for its investments in high-profile, late-stage private companies like SpaceX, Flexport, and Animoca Brands. This focus on established unicorns suggests a strategy of backing proven leaders as they approach major growth milestones or public offerings.

Adit Ventures is a good fit for founders of high-growth companies with significant traction, particularly in deep tech, fintech, and enterprise software. Their activity in secondary markets also makes them a potential partner for teams seeking liquidity options.

• Investment stages: Early Stage Venture, Late Stage Venture, Secondary Market
• Industries of focus: Augmented Reality, Big Data, Cloud Security, Cyber Security, EdTech, FinTech, Internet of Things, Sharing Economy, Space Travel
• Geographical presence: New York, New York
• Founded year: 2014
• Notable portfolio companies: SpaceX, Animoca Brands, Flexport, Rubrik, Dataminr
• Portfolio size: 25 investments
• Number of exits: 6

You can refer to their website here.

3. Anorak Ventures

Anorak Ventures is a venture capital firm that invests at the earliest stages, providing seed and early-stage funding. They focus on backing founders who are building what they consider to be transformational technologies.

The firm shows a strong preference for deep tech, with a portfolio that includes leaders in robotics, computer vision, and virtual reality. Their investments in companies like Anduril Industries and Osso VR point to a focus on businesses with significant enterprise or industrial applications.

Anorak Ventures is likely a good match if you are a founder of an early-stage company building technically complex products in areas like AR or robotics. Their portfolio suggests they are comfortable with long development cycles and ambitious, industry-changing ideas.

• Investment stages: Early Stage Venture, Seed
• Industries of focus: Augmented Reality, Computer Vision, Robotics, Virtual Reality, Video Streaming
• Geographical presence: San Francisco, California
• Founded year: 2016
• Notable portfolio companies: Anduril Industries, Flexport, Rec Room, Osso VR
• Portfolio size: 97 investments
• Number of exits: 9

You can refer to their website here.

4. Parkway Venture Capital

Parkway Venture Capital invests in technology companies across sectors like generative design, health tech, and the metaverse. The firm provides capital to businesses in both their early and late stages of development.

The firm is known for backing ambitious companies with unicorn potential, as seen in its portfolio with names like Elon Musk's xAI, robotics company Figure, and Alphabet spin-out SandboxAQ. Their strategy involves supporting businesses from initial growth through to major milestones, demonstrated by their successful exit from Lyft before its IPO.

Parkway is a strong potential partner if you are a founder of a high-growth, deep tech company aiming for market leadership. Once you secure a round, Rho’s integrated financial tools—including business banking and corporate cards—can help you manage and deploy your capital efficiently.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Augmented Reality, Health Care, Internet of Things, Renewable Energy, Sustainability
• Geographical presence: New York, New York
• Founded year: 2019
• Notable portfolio companies: xAI, Figure, SandboxAQ, Lyft
• Portfolio size: 50 investments
• Number of exits: 16

You can refer to their website here.

5. Rogue VC

Rogue VC is an early-stage firm that backs companies working on deep technology and ideas that shape emerging culture. They seek out founders with ambitious, unconventional visions for the future.

The firm's portfolio shows a clear interest in both technically complex businesses and consumer-facing brands. Investments in AR platform Streem and mixed-reality gaming company PortalOne highlight their focus on immersive tech.

This firm is a good fit for founders with a "radical" idea that falls into deep tech or a culture-defining space. Their support across multiple funding stages suggests they can be a long-term partner for growth.

Once you've secured funding, our integrated financial tools—including business banking, corporate cards, and automated bill pay—can help you manage and deploy your capital efficiently.

• Investment stages: Early Stage Venture, Late Stage Venture, Seed, Venture
• Industries of focus: Artificial Intelligence (AI), Augmented Reality, Biotechnology, Space Travel
• Geographical presence: New York, New York
• Founded year: 2020
• Notable portfolio companies: Streem, PortalOne, The Riveter, Lensabl
• Portfolio size: 22 investments

You can refer to their website here.

What This Tells Us About The VC Scene for Augmented Reality Companies

The venture capital support for Augmented Reality appears well-balanced, with firms investing across all stages from seed to late-stage rounds. This suggests a healthy funding environment for founders. A clear pattern is the geographic concentration of these investors in major US tech hubs like New York and California, a key point to consider in your outreach strategy.

This variety means you can find a financial partner whether you are developing an initial product or scaling for significant growth. As you prepare your pitch, remember that these firms often look for strong technical foundations in deep tech sectors beyond just AR.

As you plan your capital strategy, keep in mind that equity isn't the only path. Rho Capital connects startups to non-dilutive funding options such as venture debt and credit lines. Once your funding is secured, our integrated financial tools—including business banking and corporate cards—help you manage and deploy that capital efficiently.

Raise Confidently with Rho

A focused list of investors is critical when you're raising capital, as time and resources are always limited. We created this guide to help you connect with the right partners for your Augmented Reality business.

If you are actively raising, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines. Our guided process helps you find financing tailored to your specific needs without chasing lenders.

Once your capital is in place, our integrated platform helps you manage it with precision. Rho offers business banking, corporate cards, and automated bill pay to help you deploy your funds efficiently.

FAQs about Venture Capital Firms Focused on Augmented Reality

Which Bay Area venture capital firms invest in Augmented Reality?

The San Francisco Bay Area is a major center for AR investment. Firms like The Venture Reality Fund and Anorak Ventures are based there and actively back companies developing immersive technologies, from seed to early-stage rounds.

Are there European venture capital firms focused on Augmented Reality?

Yes, several European VCs invest in AR and deep tech. While many prominent firms are US-based, funds in hubs like London and Berlin show growing interest in spatial computing, offering capital and regional market access for founders.

What is the role of micro VC firms for pre-seed AR startups?

Micro VCs provide crucial early capital for pre-seed AR startups, often with more founder-friendly terms. They typically write smaller checks than larger funds, helping you validate your core technology and achieve initial milestones before a larger seed round.

How can my AR startup appeal to tech venture capital firms?

Beyond a strong vision, tech VCs want to see a clear use case and proprietary technology. Demonstrate a defensible product, a well-defined target market, and a plan for scaling your operations and team effectively.

What if my AR startup isn't ready for venture capital?

If equity funding isn't the right fit yet, consider non-dilutive options. Rho Capital connects you with venture debt and credit lines, providing access to financing tailored to your business model without giving up ownership.

How can Rho help my AR startup manage its finances after fundraising?

After you secure funding, our platform helps you manage it with precision. Rho offers integrated business banking, corporate cards, and automated bill pay, giving you clear visibility and control over your company's cash flow.