The Australian private equity firm Advent Partners has taken a majority stake in Zero Latency, the Melbourne-based VR company.
According to Deal Street Asia, the firm acquired the stake for an undisclosed amount through its Advent Partners 2 Fund, alongside founders and management as well as local venture capital firm Carthona Capital, which was an early investor in Zero Latency.
Zero Latency was founded in 2013 after an initial crowdfunding found. Today, they have 50 location-based entertainment sites around the world. Co-founders Tim Ruse, Scott Vandonkelaar and Kyel Smith will continue to lead the business in their respective roles as CEO, CTO and COO. Learn more at www.zerolatencyvr.com.