Hiro Metaverse Acquisitions I S.A. has top notch executive team

Hiro Metaverse Acquisitions I S.A. looks like being the latest special purpose acquisition company (SPAC) to float on the London Stock Exchange.

Compared to the US, London has not seen many of these so-called blank cheque companies yet so investors might be unfamiliar with them but essentially the idea is that investors hand over a pile of money to a company that invests in something – the investors know not what – in a specific area of the market. Tulip bulbs, for instance, or an enterprise in the South Sea.

As such, the management team of the SPAC is crucial to attracting the money. Hiro Metaverse, whose founders include Games Workshop founder Sir Ian Livingstone, looks to fit the bill when it comes to its chosen field of life, the metaverse and everything.

Livingstone’s co-founding partners are Luke Alvarez and Cherry Freeman. All three are described as senior leaders with an established track record of entrepreneurship and investment in the video gaming, digital sports and technology sectors.

The SPAC, or blank cheque company as it is sometimes called, is sponsored by Hiro Capital, which invests in high-growth video games, e-sports, interactive streaming, gamified fitness and metaverse technology innovators.

HMAI intends to focus on targets operating in the sectors of video games, e-sports, interactive streaming, Generation Z (GenZ) social networks, connected fitness & wellness and metaverse technologies.

According to the company’s stock market release, these have a combined market size of more than US$350bn. The HMAI team believes that games and the metaverse are the next major computing platform and will constitute a large proportion of the new economy of the 2030s.

Hiro Mataverse’s stock market statement said the founding team has collectively co-founded and invested in more than US$9bn worth of companies in these sectors, from start-ups to initial public offerings (IPOs) in London and New York.

Livingstone will be the chair of the company. He co-founded Games Workshop and subsequently was executive chairman of the Tomb Raider/Lara Croft software company Eidos. Later on, he was the chair of Sumo Group, a provider of creative and development services to the video games and entertainment industries that was bought for £1bn last month by Tencent; however, Livingstone is perhaps best known as the author of the Fighting Fantasy solitaire adventure gaming books.

“We are launching Hiro Metaverse Acquisitions I SA in London because there is a tremendous video games industry here in the UK and Europe,” Livingstone said.

“This region has talented entrepreneurs and brilliant creators who produce approximately one-third of all the video games content played worldwide. Yet despite a number of successful gaming IPOs in the UK and…