Invesco, the US-based investment management company which has over $1.5 trillion in assets under management, has announced its first metaverse-themed fund, officially making its foray into the Web3 space.
The $30-million fund would invest in small, medium, and large companies across the metaverse value chain, the company said. The fund, which will focus on companies based in the US, Asia, and Europe, will be managed by Tony Roberts. The fund, which comes with a 0.75% management fee, will have the MSCI AC World Index as its primary benchmark.
Invesco’s fund will target seven verticals within the space. Prospective investments would include firms manufacturing next-generation computer systems, makers of AR/VR headsets, powerful networks that aid hyperconnectivity, immersive platform builders, and blockchain infrastructure providers.
However, Invesco is not the first investment major to announce a Web3-focused fund. Proshares, Fidelity, Global X, and First Trust have already announced funds that would invest in the immersive 3D segment. According to a report from Citi, potential revenues from the Metaverse space could be as high as $13 trillion by 2030, while McKinsey estimates a $5 trillion revenue opportunity by 2030.