Invesco launches $30M Metaverse fund
Invesco, a global asset management firm, has launched a $30M Metaverse-focused investment fund.
Registered in Luxembourg, the Invesco Metaverse Fund has around $30 million in capitalization. The Metaverse is a network of immersive 3D worlds and online communities where people interact using virtual reality headsets and augment reality.
The Metaverse fund will be invested in large, medium, and small-cap companies across the Metaverse Value Chain, which "encloses many different interrelated sectors that help facilitate, create, or benefit from the growth of immersive virtual worlds."
According to Tony Roberts, a fund manager at the investment firm, The interconnectedness of the Metaverse "will probably have a transformational effect across businesses as diverse as healthcare, logistics, education, and sport," noting a PWC December 2020 report that estimates virtual and augmented reality has the potential to add $1.5 trillion to the world economy.
Roberts continued, “We will aim to take advantage of these possibilities in a selective, valuation-conscious manner”.
7 core investment areas
The Invesco Metaverse Fund is an actively managed fund that will invest in seven key core areas, including:
- hardware and devices that provide Metaverse access
- next-generation operating and computer systems
- hyper-connected networks
- artificial intelligence
- blockchain solutions
- interchange tools required to achieve system interoperability
- Other services and assets that will aid in digitizing the real economy.
All of these areas of focus are envisaged to plug together to form the Metaverse and next generation of the internet, also known as Web 3.
In March 2019, Invesco launched its first blockchain-related exchange-traded fund (ETF) on the London Stock Exchange. The firm was also actively seeking to launch several Bitcoin-related ETFs in the United States but to no avail.
Invesco partnered with crypto indices provider CoinShares in November last year to launch its first European exchange-traded product (ETP) backed by physical Bitcoin.
Fund investing is a great way to get exposure to companies involved in providing the picks and shovels needed to create the Metaverse, and that is where Invesco see’s the market opportunity which will appeal to investors.
Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.