Brazilian companies XP and Rico launch investment fund focused on the metaverse

The fund offers investments starting at BRL 100 and brings together around 30 global technology companies, such as Microsoft and Meta

Brazilian companies XP and Rico launch investment fund focused on the metaverse
Image: Meta/Courtesy
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Following a global trend, the Brazilian investment platforms XP and Rico announced this Monday (24) the launching of an investment fund focused on companies that work with the metaverse, with investments starting at BRL 100.

Aimed at the general public, XP and Rico’s fund, called “Trend Metaverse“, replicates a Bloomberg index, the “Bloomberg Metaverse”, which currently includes stocks from technology companies such as Apple, Microsoft, Meta, Disney, Warner Music, and Discovery.

Bloomberg index includes companies operating in sectors such as the Internet, media services, entertainment and content, hardware and software technologies, among others. Most of the companies in the Bloomberg index are from the United States, but there are also companies from other countries.

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“The fund favors industry diversification to select global companies that are at the cutting edge of the metaverse trend – from the build of augmented reality games to the digital assets market, such as cryptocurrencies,” explains Henrique Sana, a specialist in thematic and alternative investments at XP.

The metaverse (this virtual environment managed by real people but inhabited by avatars) industry could be worth more than $800 billion by 2024, according to Bloomberg projections.

“The metaverse points at the confluence of the real and digital worlds. The Trend Metaverse enables the average investor to bet on this trend,” says Sana.

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The XP Trend Metaveso has exchange rate protection over the dollar variation against the Brazilian real, an administration fee of 0.75% per year, and no performance fee.

Last November, Vitreo, the investment manager acquired by BTG Pactual, also launched a fund to invest in companies and cryptocurrencies related to the metaverse. Vitreo’s fund is available to the general public and has investments starting at BRL 1,000. 

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