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VC Firm Puts Up $25 Million For Companies Using Leap Motion's Technology

Highland Capital Partners is establishing the Leap Fund to seed uses of the 3-D motion sensor technology.

Highland Capital Partners, which provided the series A funding for the Leap Motion Controller, a $79 motion sensor and controller device, is taking the highly unusual step of dedicating a pot of money—$25 million—specifically for entrepreneurs who want to build technologies that use Leap.

"Leap Motion’s technology has the potential to transform numerous industries and impact millions of people, and we’re excited to support them," Manish Patel of Highland Capital Partners and investment lead for the Leap Fund, said in a press release.

Leap controllers are set to ship later this summer, bundled and/or embedded with HP and Asus computers, and will be for sale exclusively at Best Buy. The fund is looking to underwrite apps that can be controlled in midair with a wave of your hand, in areas like education, security, health care, big data, and productivity.