HTC is really betting the farm on the future of virtual reality

Amid a potentially terminal decline in smartphone sales, HTC appears to be going all in on the future of virtual reality.

The company behind the critically-acclaimed HTC Vive headset is leading a consortium of VR venture capitalists investing $10 billion (£7.4 billion) in VR technology.

The group features 500 start-ups as well as a host of VC investors who backed Apple and Google in their early days (via CNET).

All in all the fund brings together 28 firms who’ll be investing their capital in the burgeoning VR industry.

This is the first time such renowned VCs are joining hands at this scale to drive the future of a new industry, rather than competing to find the best deals for themselves,” said HTC’s China boss Alvin Graylin.

Read more: Oculus Rift vs HTC Vive

The push comes amid a swell of support for HTC’s Vive headset, widely thought to offer the most comprehensive and advanced VR experience to date.

However, with Facebook-owned and well-backed Oculus, as well as the might of Sony’s developer community support PlayStation VR, HTC faces a fight to sustain it’s good start.

At least HTC’s efforts are likely to benefit the entire VR community, given its commitment to cross-platform access to new experiences.

Oculus, on the other hand, has preferred exclusives although it has recently softened its stance on software that aims to bring Vive experiences to competing platforms like the Rift.

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