SCOPE, an invite-only networking platform for startups, has recently announced the launch of a $45 million venture capital fund. According to the firm, the fund is dedicated to nurturing and accelerating startups in the fintech and gaming sectors.
Appalla Saikiran, Founder & CEO of SCOPE, said, “SCOPE’s unwavering commitment to fostering innovation and fueling the growth of startups has manifested in a remarkable achievement. Through the dynamic networking prowess of SCOPE App, we are proud to announce our instrumental role in steering over USD 70 million in funding to diverse and visionary startups.”
SCOPE’s track record
In the last quarter of 2023, SCOPE played a crucial role in securing around $70 million in funding for various startups. This was achieved through the SCOPE App, which has been pivotal in connecting startups with investors.
Notable successes include securing $2.5 million for Wallex, a fintech company, and $6 million for Bruder, an emerging startup. These achievements highlight SCOPE’s effectiveness in supporting a diverse range of startups through various funding methods.
The strategy behind the VC fund
SCOPE’s venture capital arm will operate independently, focusing on identifying and supporting startups that show exceptional promise and disruptive potential in fintech and gaming. The goal is to provide strategic funding, leveraging SCOPE’s vast resources and network, to foster the growth and scale operations of these startups.
“As we usher in a new era of collaboration and growth, SCOPE remains committed to driving positive change and innovation within the startup landscape, providing a catalyst for transformative success stories in the ever-evolving world of entrepreneurship.” Saikiran further added.
SCOPE’s expanding influence
Founded by the young entrepreneur Appalla Saikiran, SCOPE has established itself as a significant player in the startup ecosystem. With partnerships involving over 20,000 angel investors, 7,000 VCs, and 200 family offices, and having facilitated funding for more than 400 startups, SCOPE’s influence and reach are extensive.
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