Eleven Ventures, a Palo Alto, CA-based venture capital firm focused on consumer and enabling technology startups, has launched officially.
Founded by serial entrepreneurs Michael Howse and Greg Ballard, Eleven Ventures will establish a new co-creation model for investment and acceleration of early-stage companies.
The value-creation model is designed around integration with founding teams to create businesses and define strategies, as well as leverage a global network of corporate executives and investors to secure partnerships and funding.
The firm is targeting startups in high-growth sectors, including:
– VR/AR, estimated to be an $80B market by 2025;
– digital gaming, projected to be a $132B segment by 2020; and
– eSports, anticipated to be a $2B industry.
Eleven Ventures will also make direct capital investments in select portfolio companies from a fund it is currently raising.
The firm’s portfolio includes Lucid Performance, addressing the mental fitness market with a startup co-founded by Jason Stirman; Cinova, a platform for streaming high quality, low bit-rate VR video; Nitero, a wireless VR technology company, which was recently acquired by AMD; OutPost Games, focused on making games as fun to watch as they are to play; and Nimble Collective, a virtual, collaborative animation platform addressing the $90 billion animation content creation market, among others.