Invesco launches metaverse fund: Citywire

Global investment management firm Invesco is set to launch the Invesco Metaverse Fund, in a move that will see it invest in a range of companies globally from across the ecosystem.

Registered in Luxembourg, it will focus on seven key areas, according to a report by Citywire on Monday. These include next generation operating and computer systems; hardware and devices that provide access to the metaverse; networks for hyper connectivity; immersive platforms developed with artificial intelligence; blockchain; interchange tools for interoperability; and services and assets facilitating the digitisation of the real economy.

The Block contacted Invesco for more details on the size and scope of the fund. 

Fund manager Tony Roberts and deputy fund manager James McDermottroe will jointly manage the new fund. Based in the UK, they are both part of the company’s Asia and emerging markets equities team.

Invesco launched its first blockchain exchange-traded fund (ETF) in March 2019 on the London Stock Exchange. In September last year, it partnered with Galaxy Digital to develop a range of cryptocurrency linked-ETFs.

Now eyeing web3, Roberts has claimed that virtual and augmented reality could deliver a £1.4 trillion boost to the global economy by 2030.  

“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,” he said.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.