Saturday, April 20, 2024
Outlook.com
Outlook India
Outlook Business

SCOPE Launches $45M Venture Capital Fund designed for Fintech and Gaming Sectors

SCOPE's venture capital arm will provide strategic capital, mentorship, and access to a vast network of industry experts

SCOPE Launches $45M Venture Capital Fund designed for Fintech and Gaming Sectors

Outlook Start-Up Desk

POSTED ON December 26, 2023 4:58 PM

The invite-only networking platform for start-ups, SCOPE has announced the launch of a venture capital fund worth $45 million. The fund will focus on evolving the fintech and gaming sectors. 

The VC arm of the platform will operate as an independent entity under the SCOPE umbrella, committed to identifying, nurturing, and accelerating groundbreaking start-ups that demonstrate exceptional promise and disruptive potential, the platform added in a release.  

The venture capitalist arm will facilitate start-ups with strategic capital, mentorship, and access to a vast network of industry experts. It will actively seek partnerships with visionary entrepreneurs, empowering them to redefine the landscape through cutting-edge technologies and transformative business models, the company added. 

The company said that the VC arm will provide more than just financial funding, adding that the selected start-ups will benefit from mentorship, industry insights, and operational support from seasoned professionals within the SCOPE ecosystem  

Commenting on the launch, Appalla Saikiran, founder and CEO of SCOPE, stated, "Fintech and Gaming are not just industries; they are dynamic ecosystems driving global change. With SCOPE’s VC, we aspire to be a catalyst for startups with audacious visions, providing the support they need to redefine the future." 

The company invited the entrepreneurs notifying them that the venture capital arm is open to collaborations and is actively reviewing investment opportunities. 

SCOPE recently released its report for the October to December quarter. The platform said that the platform has helped in securing approximately $70 million in funding during this period. The platform has partnered with over 20,000 angel investors, while over 7,000 VCs and over 200 family offices are funding over 400 start-ups.  

  • Related Articles

    The collaboration hopes to help 5 lakh MSMEs by digitally upskilling them and increasing their online presence through various online initiatives

    Meta, ONDC Join Hands To Support Small Businesses

    The edtech industry must undergo a transformation to fuel its growth. Here are some tips on adopting effective practices for navigating this transformation

    Strategies For Edtech Companies In Changing Market Conditions

    BharatPe's Merchant Lending division witnessed remarkable growth, with a 129 per cent increase in loans facilitated

    BharatPe Achieves 182 Per Cent Surge in Revenue, Hits Rs 904 Crore in Fiscal Year 2023