Press Release

Singapore – Tanncam Investment’s minority stake in NextVR acquired by Apple as part of outright acquisition of the company

By Tanncam Investments Pte. Ltd. On May 25, 2020

Tanncam Investment Pte. Ltd., a Singapore based Venture Capital Investment Firm, has sold its minority stake in virtual reality event and live stream start-up NextVR as part of Apple’s purchase of the company. 

 

Tanncam Investment typically invests in leading edge new tech, healthcare, and the finance sectors.  The company was an earlier investor in NextVR, impressed with the company’s augmented and virtual reality products and the company’s 40 or more patents in the virtual reality sphere and related technologies.

 

Tanncam Investment Director Anthony Galliano commented “as a venture capital investor we seek creators of next generation technology and we had faith in NextVR’s live broadcast virtual reality products and its deals with the likes of CNN, the NBA, and Nascar.  We are delighted with the transaction and to have been part of the company, and have confidence Apple will elevate the company to the next level.”

 

Details of the transaction were not disclosed.

 

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Tanncam Investment Pte. Ltd.

Is a Singaporean based venture capital and private equity firm that focuses on early-stage start-ups and strategic investment opportunities.

 

NextVR

Is the world’s best virtual reality platform for delivering live sports and music in VR to fans globally.  Launched in 2009, the company has patented technology that delivers an unparalleled VR experience providing fans extraordinary access and profound immersion.

 

Apple Inc.

Is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services.

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