Invesco to launch a metaverse-focused fund
It will cover seven key areas, including next-generation computer systems, networks for hyperconnectivity, and blockchain
22.08.2022 - 15:25
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What’s new? Investment company Invesco has launched a fund focused on the metaverse. The Invesco Metaverse fund will invest in large, medium, and small-cap companies in the US, Asia, and Europe. The list will include organizations that create or develop virtual worlds. The fund will be managed by Tony Roberts and James McDermottroe, members of Invesco's UK Asia equities unit.
Information on Investment Week's website
What are the objectives of the fund? It will cover seven key areas: next-generation operating and computing systems, hardware and devices that enable access to the metaverse, networks for hyperconnectivity, immersive platforms developed using artificial intelligence, blockchain, exchange tools needed for interoperability, and services and assets that will help digitize the real economy. Roberts added:
“It has been estimated that, by 2030, virtual and augmented reality could deliver a £1,4trn boost to the global economy.”
What is known about Invesco? This is an American investment company, which is among the largest organizations in the world. Its main region of operation is the United States, and it has branches in more than 20 countries around the world. As of 2021, it had 8 513 employees and $1,449 trillion in assets under management as of July 31, 2022.
In July, the Prince of Dubai, Sheikh Hamdan bin Mohammed, unveiled a strategy for blockchain technology and metaverses. For example, by 2027, the emirate will create 40 000 virtual jobs and increase the number of cryptocurrency companies by 500%.
Alphabet, Google's parent company, invested $1,5 billion in the blockchain industry between September 2021 and June 2022.
In June, Du Jun, co-founder of cryptocurrency exchange Huobi, launched ABCDE Capital, a $400 million fund to support crypto startups. The funds will go to 10 to 20 projects a year. ABCDE focuses on blockchain and applications that have the potential for mass adoption.
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