SCOPE Launches USD 50 Mn Venture Capital Fund to Back Fintech and Gaming Startups The fund aims to target high-potential fintech and gaming startups in India and US, offering early-stage investments of USD 500,000 to USD 2 million.
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SCOPE, an invite-only networking platform for startups, has unveiled a USD 50 million venture capital fund through its investment banking arm, SCOPE VC.
The fund is tailored to fuel high-potential startups in the rapidly growing fintech and gaming sectors, with a geographic focus on India and the US. By targeting these regions, SCOPE VC aims to empower visionary entrepreneurs pushing the boundaries of innovation in two industries that are set to shape the future of technology.
The fund will provide early-stage investments ranging from USD 500,000 to USD 2 million per startup, focusing on those that demonstrate disruptive potential and creative solutions.
"Fintech in India and gaming in the U.S. are showing tremendous growth, and we believe there is a significant opportunity to invest in startups that will define the future of these industries," stated Appalla Saikiran, Founder and CEO of SCOPE.
SCOPE VC's investment strategy will not be limited to financial support. It plans to implement a cohort-based approach, similar to Y Combinator's model, that offers selected startups mentorship, corporate connections, and essential strategic resources. This one-stop-shop for entrepreneurs will provide a conducive environment for startup founders to grow and scale their ventures efficiently.
"Our goal is not just to fund startups but to create a robust ecosystem where founders can thrive," said Saikiran.
SCOPE itself, founded by Saikiran, is an invite-only platform designed to connect entrepreneurs, mentors, and investors in the startup ecosystem. With this unique setup, the platform fosters collaboration and innovation among its members, which aligns with the mission of SCOPE VC's new fund.
In addition to this new venture capital fund, SCOPE VC has plans to launch a USD 20 million angel fund within the next three months. This fund will target even earlier-stage startups, providing essential capital and guidance to founders taking their first steps in the competitive startup landscape.
"Our ultimate success marker is not just financial returns but the ability to create a thriving ecosystem for startups," Saikiran added.
