Investment management giant Invesco has launched a metaverse fund that will invest in a myriad of startups focused on metaverse technology, a Citywire report detailed Monday. “We will seek to capitalize on these opportunities through a highly selective and valuation-aware approach,” explained Tony Roberts, fund manager at Invesco.
Invesco unveils Metaverse fund: Investment manager plans to invest in small, mid-cap and large-cap startups
On Monday, Citywire’s Chris Sloley published a report explaining that fund manager Invesco (NYSE: IVZ ) launched a metaverse fund. According to the report, the Invesco metaverse fund will invest in small-, mid-, and large-cap companies around the world that engage in metaverse technologies such as virtual worlds, non-fungible tokens (NFTs), augmented reality, play-to-win (P2E ). ) games and artificial intelligence (AI).
Sloley’s report notes that the fund will be managed by Invesco fund manager Tony Roberts and deputy fund manager James McDermottroe. Roberts detailed that there are some very optimistic predictions surrounding the future growth of the metaverse. “It has been estimated that by 2030, virtual and augmented reality could deliver a £1.4 trillion boost to the global economy,” Roberts said on Monday. As of July 31, Invesco disclosed that it had $1.44 trillion in assets under management (AUM).
Invesco’s metaverse fund news follows a number of companies and organizations that have entered the metaverse this year. For example, a report recently detailed that South Korean electronics giant Samsung signed a memorandum of understanding (MOU) with half a dozen companies to launch the “Galaxy NFT.” [non-fungible token] ecosystem”. Metaverse fund Invesco aims to capitalize on technologies that open the door to virtual worlds and interconnectivity, according to the report released Monday.
“While the applications of the metaverse for entertainment are increasingly well understood, the interconnectivity it enables will likely have a transformative impact on industries as diverse as healthcare, logistics, education and sports,” Roberts commented while discussing the Invesco metaverse fund. “We will seek to capitalize on these opportunities through a highly selective and valuation-conscious approach,” added the Invesco fund manager.
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