SCOPE launches $45 mn venture capital fund for fintech, gaming sectors

SCOPE, an invite-only networking platform for the startup ecosystem, on Tuesday announced the launch of a USD 45 million venture capital fund focused on driving innovation in the fast-evolving fintech and gaming sectors.

This strategic initiative underlines SCOPE's commitment to fostering innovation, collaboration, and growth within the startup community, according to a release.

The VC arm will operate as an independent entity under the SCOPE ambit, to identify, nurture, and accelerate "groundbreaking startups that demonstrate exceptional promise and disruptive potential".

Announcing the launch of the USD 45 million fund designed for fintech and gaming sectors, the release said, "SCOPE recognises the immense opportunities presented by fintech and gaming".

Both sectors, it noted, have witnessed 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 venture capital arm will actively seek partnerships with visionary entrepreneurs, according to the release. It will actively scout for startups demonstrating innovative solutions, disruptive technologies, and the potential to redefine industry norms within Fintech and Gaming.

The venture capital arm is open to collaborations and is actively reviewing investment opportunities, the release said. The venture capital arm will provide strategic funding to promising startups, fostering their growth and enabling them to scale their operations.

SCOPE, founded by the 20-year-old entrepreneur Appalla Saikiran, is a personalised networking platform that 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.