Qualcomm announced the establishment of Xiaolong metaverse Fund: with a total amount of up to US $100 million, which was officially opened in June

Techweb on March 22, according to foreign media reports, metaverse, which became popular last year, has attracted extensive attention from capital markets and technology giants. Many listed companies have announced that they have related businesses. A large number of companies are applying for metaverse related trademarks. Facebook, which frequently acts on metaverse, has changed the company name to meta. Apple CEO Cook said they see the great potential of metaverse, Relevant investments are being made.

Qualcomm, which has been involved in XR and other related metaverse technologies, will expand its investment in metaverse. They have announced the establishment of Xiaolong metaverse fund with a total amount of up to US $100 million.

Qualcomm announced on its official website on Monday local time that it would set up a snapdragon metaverse fund with a total amount of up to $100 million to invest in developers and enterprises building unique immersive XR experience and related core AR and AI technologies.

According to the information released by Qualcomm on its official website, their $100 million Xiaolong metaverse fund will provide funds for building ecological developers with rich XR experience in games, health, media, entertainment, education and other fields through Qualcomm venture capital’s venture capital investment in leading XR companies and Qualcomm Technology funded projects.

According to the plan, Qualcomm’s Xiaolong metaverse fund will be officially opened in June this year to accept relevant applications.

In addition to financial support, developers and enterprises supported by Xiaolong metaverse fund are also expected to receive support from Qualcomm in other aspects. Qualcomm said on its official website that invested enterprises and developers will have the opportunity to obtain leading XR platform technology, hardware suite, global investor network and joint marketing and promotion opportunities in advance.

For the establishment of Xiaolong metaverse fund, Cristiano Amun, CEO and President of Qualcomm, said that through Xiaolong metaverse fund, we look forward to enabling developers and enterprises of different sizes to create more possibilities when the new generation of spatial computing is launched.