The venture capital subsidiary of South Korean urban gas and power group Daesung recently established a fund worth 110 billion Korean won (about $84.5 million) to expand investments in startups in the metaverse industry, local media reported on Thursday.

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Fast facts

• Daesung Private Equity on Wednesday announced the launch of the Daesung Metaverse Scale-up Fund, which the company says is the largest metaverse fund in South Korea, according to local reports.
• The fund will focus its investments on startups specializing in artificial intelligence (AI), extended reality (XR), blockchain and digital twin technologies.
• Korea Venture Investment Corp., the country’s company…