Greycroft co-founder Ian Sigalow announced recently that their venture capital firm plans to invest over a billion dollars over the coming years in companies focused on creating products and services for the metaverse.
At the recent Web3 Summit in San Francisco, Sigalow spoke with TechCrunch about Greycroft’s metaverse strategy. He stated that they are currently seeking investment opportunities within companies who are developing infrastructure tools and applications related to metaversals.
“We’re investing in the metaverse because we believe it will become the next big computing platform,” stated Sigalow. “It will offer people new and immersive ways to work, play, and socialize.
Sigalow noted that Greycroft has made several metaverse investments already, such as Genies (a social avatar platform) and Spatial (which provides virtual collaboration software). Furthermore, they plan to invest more companies over time.
“We’re just getting started,” stated Sigalow. “We believe the metaverse will provide entrepreneurs and investors with enormous opportunities.”
Here are the main takeaways from Sigalow’s interview:
- Greycroft Investment Partners plans to invest $1 billion over the next few years in companies that are creating products and services for the metaverse. It seeks out firms creating infrastructure, tools, or applications related to metaversalism as potential investments.
- Greycroft believes the metaverse is poised to be the next major computing platform, having invested in several metaverse companies already and planning further investments over the coming months and years.Greycroft Venture Capital Firm was one of the first venture capital firms to make an early commitment to investing in this fast-emerging technology sector, showing their growing enthusiasm and confidence in this space.
- Their investment represents this new wave of excitement around this emerging field.