The 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 on Monday. “We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach,” Tony Roberts, Invesco’s fund manager, explained.
Invesco Reveals Metaverse Fund — Investment Manager Plans to Invest in Small, Medium, Large-Cap Startups
On Monday, Citywire’s Chris Sloley published a report explaining that the fund manager Invesco (NYSE: IVZ) launched a metaverse fund. According to the reportthe Invesco metaverse fund will invest in small, medium, and large-cap companies worldwide that are dedicated to metaverse technologies like virtual worlds, non-fungible tokens (NFTs), augmented reality, play-to-earn (P2E) gaming, and artificial intelligence (AI).
Sloley’s report notes that the fund will be managed by Invesco’s fund manager Tony Roberts and the deputy fund manager James McDermottroe. Roberts detailed that there are some very optimistic predictions surrounding the metaverse’s future growth. “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 it had $1.44 trillion in assets under management (AUM).
The Invesco metaverse fund news follows a slew of companies and organizations getting into the metaverse this year. For instance, a report recently detailed that the South Korean electronics giant Samsung signed a memorandum of understanding (MOU) with a half dozen firms to launch the “Galaxy NFT [non-fungible token] ecosystem.” According to the report published on Monday, the Invesco metaverse fund aims to capitalize on the technologies opening the door to virtual worlds and interconnectivity.
“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,” Roberts remarked while discussing the Invesco metaverse fund. “We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach,” the Invesco fund manager added.
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