The first phase of a $50 million virtual reality fund between IMAX and other strategic investors has been completed, paving the way for the creation of at least 25 interactive VR content experiences over the next three years for use across all VR platforms including in IMAX VR centres. IMAX and its partners, which include include Acer, CAA, China Media Capital, Enlight Media, The Raine Group, Studio City and WPP, will use the funds to aid in the creation of higher-quality VR content that can be leveraged across the VR industry. The group will target premium, event-style productions with its Hollywood studio and filmmaker partners that complement IMAX's film slate, as well as gaming publishers and other content developers.

IMAX, which is already in advanced discussions with numerous content developers – including Hollywood studios and gaming publishers – intends to utilize the cinema-grade virtual reality camera that it is currently developing in partnership with Google for several of the projects.

IMAX is in the process of launching its first pilot IMAX VR centres in Los Angeles and at ODEON & UCI Cinemas Group's Printworks multiplex location in Manchester, England. The company is also targeting additional test facilities in China, Japan, the U.S., the Middle East and Western Europe in the coming months.