By Charlie Conchie
Investment management firm Invesco has launched a new fund dedicated to metaverse-related equities today as it looks to tap into a “£1.4tn boost to the economy”, the firm said.
The Invesco Metaverse fund will invest in large, medium and small-cap companies across the US, Asia and Europe and pump cash into firms creating virtual online worlds.
Tony Roberts, who will oversee the fund, said the firm will look to capitalise on a swelling area of the economy.
“It has been estimated that, by 2030, virtual and augmented reality could deliver a £1.4trn boost to the global economy,” said Roberts.
“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.
“We will seek to capitalise on these opportunities through a highly selective, valuation-conscious approach.”
The fresh fund will back projects across seven key thematic area, including, hardware and devices that provide access to the Metaverse, networks for hyperconnectivity, immersive platforms developed with artificial intelligence and blockchain.
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