Invesco, the investment giant in management has created a metaverse funds that will invest into a variety of metaverse startups. A Citywire report reported Monday. “We will seek to capitalise 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. The report states that the Invesco Metaverse Fund will be investing in large, small and medium-sized companies around the world dedicated to metaverse technology such as virtual worlds and non-fungible tokens.
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. Invesco had $1.44 Trillion in assets under management (AUM) as of July 31, according to its website.
Invesco’s metaverse news is a result of a number of organizations and companies joining the fund 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 capitalise on these opportunities through a highly selective, valuation-conscious approach,” the Invesco fund manager added.
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