Invesco launches $30M metaverse fund
Believes the metaverse could be a £1.4trn market by 2030
Investment management giant Invesco has launched a fund to invest in large, medium, and small-cap companies focused on metaverse technology.
The Invesco Metaverse Fund is registered in Luxembourg and will focus on seven key areas, according to a report by Citywire. These include next-generation operating and computer systems; hardware and devices that provide access to the metaverse; networks for hyper-connectivity; immersive platforms with artificial intelligence; blockchain; interchange tools enabling interoperability; and services and assets that facilitate the digitisation of the real economy.
Fund manager Tony Roberts and deputy fund manager James McDermottroe will jointly manage the fund. Roberts, who oversees Asia-focused equity strategies at the group, said on Monday that virtual and augmented reality could be a £1.4trn market by 2030.
"While the metaverse's applications to entertainment are increasingly well-understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education and sport,” he said. “We will seek to capitalise on these opportunities through a highly selective, valuation-conscious approach."
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