Alan Howard and CMT Digital back a $100m metaverse fund.

Investment company Sfermion has raised $100m for a new fund. Its goal is to accelerate the emergence of a decentralized metaverse by investing in infrastructure, as stated in the release.

Among strategic investors are billionaire Alan Howard, Cameron and Tyler Winklevoss, Chris Dixon, Mark Andreessen, Matthew Roszak, Digital Currency Group, CMT Digital and Animoca Brands.

Earlier, Sfermion launched Fund I, focused on direct investments in the non-fungible token (NFT) space. The new Fund II “seeks to build a robust investment portfolio supporting the development of the metaverse,” the firm said.

«We created this fund based on the notion that NFT is the Trojan horse for the mass adoption of cryptocurrency and the next multi-billion-dollar industry,» said Sfermion managing partner Andrew Steinwald.

In a comment to The Block, he added that the firm plans to invest through equity and token deals. According to him, the fund will partly focus on projects building NFT infrastructure.

As of writing, Sfermion has invested in more than 40 companies, including OpenSea and SuperRare.

At the end of October Facebook announced a major rebranding and refocusing the company on building its own metaverse. Against this backdrop the token prices of projects in the GameFi and virtual worlds sectors rose significantly.

Earlier, Huobi Ventures supported the launch of OP Crypto Capital Management fund with $25 million in assets focused on investments in DeFi, Web 3.0 and metaverses.

In early November, the Hong Kong gaming platform The Sandbox raised $93 million to create a metaverse. The round was led by Vision Fund 2 from SoftBank.

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