The chipmaker's Snapdragon Metaverse Fund will provide equity financing and grants for metaverse and extended reality technology startups.

US-headquartered mobile semiconductor technology producer Qualcomm unveiled an investment vehicle on Monday that will provide up to $100m in funding for developers of metaverse technology.

Snapdragon Metaverse Fund, named after the corporate’s Snapdragon system-on-chip product range, will focus on extended reality (XR) technology startups and deploy capital through Qualcomm’s core investment arm, Qualcomm Ventures, and through a grant initiative intended to grow the overall ecosystem.

Qualcomm is already working on XR – a blanket term for augmented, virtual and mixed…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.