MELBOURNE, Australia (August 12, 2021) – Today, the global leader in free-roaming virtual reality (FRVR), Zero Latency VR announced that Advent Partners Pty Ltd, one of Australia’s leading private equity firms, has become a partner and majority shareholder in the company. Zero Latency VR founders will remain key shareholders and continue to lead the company’s global growth in the FRVR (free-roaming VR) space. Zero Latency VR has consistently added additional FRVR venues around the world throughout 2020 and 2021, and will soon have 55 venues open in 24 countries with big plans for 2022.
“Zero Latency VR will remain the global leader in FRVR. This new funding will accelerate our strategy, allowing us to expand aggressively into new markets and increase our support to existing locations”, explained Tim Ruse, Zero Latency VR CEO. “We welcome our new strategic partner, Advent, whose professionalism, experience in technology and investment, will help us meet our goals.”
Zero Latency VR’s most recent experience, Far Cry® VR: Dive Into Insanity, co-developed by Ubisoft, is its most successful to date, with 40% of new customer ticket sales in June alone stemming from the new title. In Far Cry® VR, up to eight players work together with props and plenty of space to fight their way across Rook Islands’ vast environments. Collaboration and teamwork will be key for players to find their way through the deranged Vaas’ jungle gauntlet and get off the island together. Far Cry® VR: Dive into Insanity’s mechanics are simple and intuitive, giving players the freedom to discover the vast, colorful world of the game.
Symon Vegter from Advent Partners said “It is the ideal time to get into the location-based VR sector, with consumers increasingly seeking new experiences, creating a large opportunity for Zero Latency VR, which is one of the fastest-growing, and the most disruptive players in this space. We are thrilled to be partnering with the team and to provide them with support as they seek to establish FRVR as the new medium in leisure and entertainment.”
About Zero Latency VR
Zero Latency VR opened the world’s first free-roam VR entertainment venue in 2015 and has grown into the largest free-roam virtual reality entertainment network on the planet today, making it accessible to millions worldwide. Zero Latency VR now has 51 venues in 24 countries and counting. Learn more at www.zerolatencyvr.com
About Advent Partners
Advent Partners is one of Australia’s leading private equity firms, and currently manages approximately $700 million of private equity funds. The firm was founded 35+ years ago and is focused on partnering with founders and entrepreneurs to help then reach the next stage of success. Advent typically invests equity of between A$30M and A$60M. It has a long term track record of investing and growing leading B2B technology and software businesses. Its current portfolio includes Compass Education, Flintfox International, Medtech Global and Mandoe Media.
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MEDIA CONTACT:
Eileen Tanner
Zebra Partners for Zero Latency VR