“The Metaverse is an ubiquitous online and digital world, the evolution of the Internet. Our lives are already enriched by smartphones, online consumables, video conferencing, digital video and audio streaming. We take a lot of it for granted “- Andy Wood, founding partner of WiSE
October 07, 2021
WiSE (WiSE Partners Ltd) today launched a growth venture capital fund dedicated to investing in the Metaverse. Founded by two creative industries and venture capitalist executives – Andy Wood and Patrick Bradley. Andy is the former president and chairman of Cubic Motion, and Patrick is the founder of Station12. WiSE is based in the UK and will operate worldwide.
WiSE defines the metaverse as the place where people live in computer-generated 3D online environments that are seamlessly and permanently integrated and expanded in the real world and in real time.
WiSE has identified the metaverse as an area of great value where multinational corporations are building their own interconnected ecosystems based on the future of entertainment and social interaction.
Recent examples include the purchase of Cubic Motion from Epic Games; the creators of the 3D game and film development engine Unreal and the phenomenally popular online game Fortnite. Tencent has also advanced the concept of an interconnected virtual network of businesses.
There are 3 billion gamers in the world and many new online initiatives have resulted from the pioneering online development of video games. The video game industry is already three times the size of the film and music industries combined. Epic recently raised a billion dollars to build the Metaverse to address this and more. WiSE, like many others, see this as exponential as Epic, along with its partner Tencent, is at the forefront of the development of the Metaverse.
WiSE has determined that there are a significant number of highly innovative, privately owned companies that will shape and transform this virtual ecosystem that WiSE will invest in. WiSE has already invested in four companies, the cornerstone for the launch of its fund.
WiSE uses decades of financial and industry expertise as well as an in-depth network to invest in and advise companies in the growth phase that are successfully operating in the converging sectors of the metaverse. These include animation, broadcast, video games, esports, sound, digital art, technology, and real-time tools.
Andy Wood, founding partner of WiSE, said: “The Metaverse is an ubiquitous online and digital world. It’s the natural evolution of the internet. Our lives are already enriched by smartphones, online consumables, video conferencing, digital video and audio streaming. We take a lot of it for granted. The world population is over 7.5 billion and there are now over 6 billion internet connected devices. The metaverse is the next iteration of our digital life. It is already happening and it persistently continues. It is both exciting and a pleasure to work with the talented people who create innovative companies and technologies that have already gained some attraction and who now need to increase the capacity and resources to continue to thrive as the Metaverse unfolds and grows expand. “.
Patrick Bradley, Founding Partner of WiSE, said, “The Metaverse is expected to be a trillion dollar economy. WiSE is already investing in games, animation, NFTs, 3D surround sound and interactive storytelling in real time. We’re also looking at further investments in social media, eSports, and tool development and design.
Andy and I have worked together for many years, and the creation of WiSE emerged from our previous partnerships with Innovate UK’s Audience of the Future Challenge, where we identified the potential for immersive technology to build the building blocks back in 2019 of the metaverse. The creation of the Metaverse is one of the most exciting investment opportunities we’ve seen in decades. “
WiSE is a venture capital fund in the growth phase with a special focus on the metaverse. WiSE sees, explores, and evaluates a broad pipeline of opportunities across the metaverse that are private companies that are driving the next dynamic change in the ecosystem. These companies turn to WiSE to secure capital for growth and its technical support. WiSE will offer its investors access to these companies.
WiSE is also working with companies to give them access to these market-changing companies. The corporate venture partners of the WiSE have a first-look advantage with evaluated and selected companies. WiSE already operates in markets including interactive storytelling and narration, video games, alternate reality, digital people, haptics, digital art and NFTs, 3D surround sound, software tools and platforms, real-time applications and events.
About Andy Wood
Andy is very experienced in the creative industries. He has been involved in the development and marketing of over 50 leading video games and records; Co-founder of USD, Mirage, The Producers, Actualize and WholeWorldBand. He is the former CEO of Image Metrics and Optasia Medical and was also on the board of directors of Peter Gabriels RealWorld, Great Fridays and the music festival WOMAD.
Andy is a Fellow of the TriBeCa Film Foundation and gave a ‘TEDx Talk’ on Digital Humans in Manhattan Beach. He was Chairman and President of Cubic Motion, which launched private equity investments, followed by a major exit in 2020 at Epic Games; famous for the Unreal Engine and Fortnite. Andy is currently the chairman of Factory Create.
About Patrick Bradley
Patrick is the founder of Station12, which invests in and advises companies in the entertainment, sports and knowledge sectors. He officially headed the venture capital group at Ingenious and operated a private LLP, an AIM-listed closed-end investment company and SEIS / EIS funds. Patrick previously worked as a senior executive in the music, film and television industries with a focus on M&A at PolyGram (now Universal Music), Universal Studios and Liberty / UPC. Patrick has invested across the entertainment sector, including television rights, computer games, live events and music publishing. Patrick is governor of the University for the Creative Arts and trustee of OKRE. He was a former trustee of InoFilm and the National Army Museum.
Station12 combines operational, investment and consulting experience and provides a unique and deep understanding of the sports, entertainment and knowledge sectors. Station12 has worked in television, advertising, music and film and has made leading investments in these sectors along with gaming, sports, live events and theater. The sports, entertainment and knowledge market is global and is changing rapidly with technology and changing consumer behavior.
Station12 Asset Management Limited acts as the FCA authorized investment manager for WiSE.
Contact [email protected]