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Grade, Hon firm invests in VR entertainment producer

Stuart_VRChinese entrepreneur Johnny Hon is to invest £1 million (US$1.4 million) to take control of a UK-based virtual reality entertainment content producer.

The deal hands Gate Ventures a 61% stake in Infinity House Productions, which Rosemary Reed and Corrina McCann founded.

Infinity House is the parent of Infinity 360° VR, which focuses on creating innovative film and television VR content that uses headsets to make immersive experiences.

Gate, meanwhile, recently became a 20% shareholder in Infinity Creative Media, of which former BBC, ITV and Channel 4 boss Michael Grade is chairman.

Infinity Creative is the production company behind Channel 5 motor series Classic Car Show, and employs an investor-funded television model that allows broadcasters to acquire new ready-made shows rather than commissioning them.

Infinity House is currently talking to a “number” of VR distributors such as Microsoft, Sony and Samsung, and also supplies content to Facebook-owned Oculus, including Living the Life, a series featuring sports star David Beckham and theatre impresario Andrew Lloyd-Webber.

“Modern technology can make sci-fi dreams reality and open up new experiences, new places and a new world to people around the globe. Infinity House Productions is a true pioneer and are already behind a range of revolutionary film, TV, marketing, wellbeing and other projects,” said Hon.

“I am looking forward working with the team to bring quality immersive VR entertainment to global consumers.”