Networking Platform SCOPE, made for the startup ecosystem, on Tuesday launched a $45 million venture capital fund focused on driving innovation in the fast-evolving fintech and gaming sectors.
This strategic initiative defines the invite only platform SCOPE’s purpose to foster innovation, collaboration, and growth within the startup community, according to a release.
The Venture Capital arm will funtion as an independent entity under the SCOPE ambit to identify, nurture, and accelerate “groundbreaking startups that demonstrate exceptional promise and disruptive potential”.
Unveiling the launch of the $45 million fund designed for fintech and gaming sectors, the release mentioned, “SCOPE recognises the immense opportunities presented by fintech and gaming”. Both sectors, have demonstrated unprecedented growth, driven by technological advancements, changing consumer behaviours, and an increasing demand for innovative solutions.
“The venture capitalist arm aims to be at the forefront of this revolution by providing strategic capital, mentorship, and access to a vast network of industry experts,” the release said.
The VC extension will aggressively seek partnerships with visionary entrepreneurs, according to the release. It will invest in startups demonstrating innovative solutions, disruptive technologies, and the potential to redefine industry norms within fintech and gaming. Furthermore it said it is open to collaborations and is actively reviewing investment opportunities.
Promising startups will benefit from the VC as it is committed to foster their growth and enabling them to scale their operations.
SCOPE, founded by the 20-year-old entrepreneur Appalla Saikiran, matches entrepreneurs with like-minded individuals, curated content, and valuable opportunities. It is supported by successful partnerships with 20,000-plus angel investors, 7,000-plus VCs, 200 family offices, and facilitation of funding for over 400 startups.
