Presence Capital

High-Level Overview

Presence Capital is a venture capital firm dedicated to financing and supporting startups at the forefront of augmented reality (AR), virtual reality (VR), and immersive computing. The firm’s mission is to accelerate the adoption and impact of immersive technologies by investing in visionary entrepreneurs who are building new ways for people to communicate, work, and play. Presence Capital’s investment philosophy centers on backing early-stage teams with unique technology and strong founder-market fit, prioritizing founders who are pushing the boundaries of human-computer interaction. Their focus spans gaming, communications, consumer products, business services, and even life sciences, making them a pivotal force in shaping the future of immersive tech.

Presence Capital has played a key role in nurturing the AR/VR startup ecosystem, providing not only capital but also strategic guidance and access to a global network of industry leaders. Their early bets on immersive technologies have helped bring innovative products to market and have positioned them as a go-to partner for founders building the next generation of digital experiences.

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Origin Story

Presence Capital was founded in the mid-2010s by a team of seasoned entrepreneurs and investors who recognized the transformative potential of AR and VR long before these technologies entered the mainstream. The firm’s founding partners—Amitt Mahajan, Paul Bragiel, and Phil Chen—each bring deep expertise from both the startup and investment worlds. Amitt Mahajan, a serial entrepreneur and engineer, previously co-founded MyMiniLife (acquired by Zynga) and Toro (acquired by Google), and was instrumental in the creation of FarmVille. Paul Bragiel, a global investor and entrepreneur, has launched multiple funds across continents and advised tech ecosystems worldwide. Phil Chen, a technology explorer and former executive at HTC, led the company’s VR initiatives and was pivotal in the acquisition of Beats Electronics.

The firm’s evolution has mirrored the growth of the immersive tech sector, starting with a laser focus on AR/VR and expanding to include mixed reality and other immersive computing platforms. Their early entry into the space allowed them to build a reputation as pioneers and thought leaders, attracting top talent and innovative startups.

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Core Differentiators

• Founder-First Approach: Presence Capital prioritizes backing passionate, mission-driven founders with deep technical expertise and a clear vision for the future of immersive technologies.
• Deep Domain Expertise: The partners’ backgrounds in gaming, VR hardware, and consumer tech give them unique insights into the challenges and opportunities facing AR/VR startups.
• Global Network: Presence Capital leverages a vast network of industry leaders, advisors, and ecosystem partners to help portfolio companies scale and enter new markets.
• Hands-On Support: Beyond capital, the firm offers operational guidance, strategic introductions, and hands-on mentorship to help founders navigate the complexities of building and scaling immersive tech companies.
• Early-Stage Focus: Presence Capital specializes in pre-seed, seed, and Series A investments, often being the first institutional backer for groundbreaking startups.

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Role in the Broader Tech Landscape

Presence Capital is riding the wave of a major technological shift: the rise of immersive computing. As AR and VR move from niche applications to mainstream adoption, the firm is at the forefront of shaping how these technologies are developed and deployed. The timing is critical—advancements in hardware, software, and connectivity are converging to make immersive experiences more accessible and impactful than ever before. Presence Capital’s investments are helping to drive innovation in areas like remote collaboration, immersive entertainment, and next-generation user interfaces.

Their influence extends beyond individual startups; by fostering a vibrant ecosystem of AR/VR entrepreneurs, Presence Capital is helping to accelerate the broader adoption of immersive technologies and is positioning itself as a key player in the future of digital interaction.

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Quick Take & Future Outlook

Presence Capital is poised to remain a leading force in the immersive tech investment space as AR and VR continue to mature and expand into new industries. The firm’s early bets and deep expertise will likely give them a competitive edge as the market evolves, and their focus on founder support and ecosystem building will continue to attract top talent. Looking ahead, Presence Capital’s influence will likely grow as immersive technologies become increasingly integrated into everyday life, from work and education to entertainment and healthcare.

As the boundaries between the physical and digital worlds blur, Presence Capital’s mission—to back the pioneers shaping this new frontier—will remain as relevant as ever. Their journey is a testament to the power of visionary investing in transformative technologies.