Investment management firm Invesco is launching a metaverse fund to support innovative companies in the emerging ecosystem. The move comes as the Atlanta, Georgia-based company is looking to “boost £1 trillion to the global economy” by supporting metaverse projects in the US, Asia and Europe.
Invesco Metaverse Fund Focuses on Promising Metaverse Startups
Invesco, an investment firm with nearly $1.6 trillion in assets under management (AUM), is launching the Invesco Metaverse Fund to supporting a wide range of promising startups to build virtual worlds. The Luxembourg-registered fund will support small, medium and large cap metaverse projects in the US, Europe and Asia.
Invesco said the fund will focus on seven key areas, including “next-generation computing and operating systems; hardware and devices that provide access to the metaverse; network for hyperlinks; immersive platform developed using artificial intelligence; blockchain; exchange tools for interoperability; and services and assets that facilitate the digitization of the real economy.
Invesco fund manager Tony Roberts believes the super-island space provides “a £1 Trillion to boost to the global economy” and the interconnectedness the industry allows could have a lasting impact on sectors. other sectors, including healthcare, logistics, sports and education.
The Invesco Metaverse Fund will be managed by Roberts and another fund manager, James McDermottroe, both of whom are part of Invesco’s Asia and Emerging Markets equity group.
The Fund marks another significant commitment by the global investment management company, which launched its first blockchain exchange-traded fund (ETF) in 2019.
The company also partnered with Galaxy Digital last year. to work on several crypto-related ETFs.
Founded in 1978, Invesco is an independent investment management company with more than 8,000 employees in 25 countries. It is the 13th largest asset manager in the world.
Metaverse Welcomes Major New Players
Invesco fund represents another attempt by a major company to exploit unique opportunities within the rapidly growing Metaverse ecosystem. A recent research report by Fortune Business Insights (FBI) predicts that the metaverse market will grow from $100.27 billion in 2022 to $1.527 trillion in 2029.
In partnership with The Sandbox. The partnership is expected to create Hell’s Kitchen themed virtual experiences in The Sandbox, hosted by ITV Studios