After other tech giants, Invesco’s investment manager, in turn, is launching a fund that will invest in a variety of startups dedicated to various aspects of the metaverse.
Invesco unveils its Metaverse Foundation
Global investment management company Invesco is in turn entering the metaverse, according to a Citywire article published by TheBlock. The dedicated fund will invest in startups of various capitalizations that are working around Web3 or otherwise benefiting from its growth.
Thus, the areas affected will expand: from next-generation operating systems to hardware that provides access to the metaverse, through blockchains, interaction tools, or even immersive platforms based on artificial intelligence (AI) and augmented reality.
Fund manager Tony Roberts and assistant manager James McDermottro will jointly manage this new fund, which is valued at approximately $30 million.
Metaverse, promised land
The launch of the fund is based on very optimistic forecasts for the growth of the metaverse in the coming years. Some, like Matthew Ball, CEO of venture capital firm Epyllion and co-inventor of the first metaverse exchange product, are investing in an economy that could be worth $10 trillion to $30 trillion over the next decade. Others, such as the CEO of graphics chip giant Nvidia, even argue that this virtual economy could one day dwarf the real world, which today is valued at more than $80 trillion.
As the applications of the metaverse to entertainment become more understood, the interconnectivity it provides is likely to have a transformative impact on sectors as diverse as healthcare, logistics, education, and sports.
Tony Roberts, investment manager at Invesco, at TheBlock
Invesco, which manages $1.4 trillion in assets, has already launched a number of cryptocurrency-related exchange products. In particular, the bitcoin ETP under his leadership was listed on the Frankfurt Stock Exchange last fall.
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