Investment management giant Invesco has launched a metaverse fund to invest in a myriad of startups focused on metaverse technologies, a Citywire report detailed Monday. Invesco fund manager Tony Roberts explained, “We seek to capitalize on these opportunities through a highly selective, valuation-aware approach.”
Invesco Unveils Metaverse Fund – Investment Manager Will Invest in Small, Medium and Large Startups
On Monday, Citywire’s Chris Sloley published a report describing the fund managerInvesco(NYSE: IVZ) explained that it had launched a metaverse fund. According to this reportInvesco’s Metaverse Fund will invest in small, medium, and large companies around the world that specialize in metaverse technologies such as virtual worlds, non-fundable tokens (NFT), augmented reality, play-to-ear (P2E) gaming, and artificial intelligence (AI).
The fund will be managed by Invesco fund manager Tony Roberts and deputy fund manager James McDermottlow, according to Sloly’s report. Roberts elaborates that there are very optimistic projections surrounding the future growth of the metaverse. It is estimated that “by 2030, virtual and augmented reality could provide a 1.4 trillion pound boost to the global economy,” Roberts said on Monday.As of July 31, Invescodisclosedthat it had $1.44 trillion in assets under management (AUM).
News of Invesco’s metaverse fund follows a number of companies and organizations entering the metaverse this year. For example, we recently detailed that South Korean electronics giant Samsung has signed a memorandum of understanding with six companies to launch a “Galaxy NFT (non-fungible token) ecosystem.” According to the report published Monday, Invesco’s Metaverse Fund aims to capitalize on technologies that open the door to virtual worlds and interconnection.
“While the applications of Metaverse in entertainment are increasingly understood, the interconnectivity it enables will have a transformative impact on industries as diverse as healthcare, logistics, education and sports,” Invesco Roberts said while describing the Metaverse Fund. added the Invesco fund manager. We intend to capitalize on these opportunities with a highly selective and valuation conscious approach.”
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