On Tuesday, HTC released a statement to announce the launch of a $100 million fund, Vive X. The fund has been designed with the key objective of promoting the growth of startups focused on virtual reality (VR) across the world.

According to the details shared by HTC, the offices of the Vive X fund will be located on San Francisco, Beijing and Taipei. The VR startups to which the fund will be devoted will include accessories manufacturers, content creators and app developers.

The Vive X fund will be fostered by HTC as a global VR accelerator, and will, thus, be of immense significance for existing and new VR startups.

The launch of the Vive X fund reflects HTC’s serious commitment to making real inroads in the VR arena. Towards that end, HTC CEO Cher Wang said in the Tuesday statement that, “Virtual reality is changing the world, yet to do that effectively it needs a healthy ecosystem to expand into the mass market.”

Wang further added: "Through HTC Vive, we look forward to enabling global talent to create interesting and compelling content and to help shape the future of this industry."