Qualcomm has set up a $100 million fund to invest in virtual and augmented reality technologies in a bid to help jumpstart the metaverse.
The San Diego wireless technology firm announced the initiative, called the Snapdragon Metaverse Fund, Monday. It mirrors other funds that Qualcomm has created over the years to advance emerging technologies where it has a footprint. An example is the $100 million Qualcomm Ventures Artificial Intelligence Fund created in 2018.
The company plans to deploy the Snapdragon Metaverse Fund by investing in virtual and augmented reality companies through Qualcomm Ventures — its corporate venture capital arm.
