SCOPE, an invite-only networking platform for the startup ecosystem, on Tuesday has declared the launch of a $45 million venture capital fund. The freshly invested funding will be the driving force for innovation in the fast-evolving fintech and gaming sectors.
According to the Press release, this latest strategic initiative underscores SCOPE’s mission towards fostering innovation, fastening rapid growth, and collaboration among the startup community.
The mission and vision of Venture Capital Arm
The Venture Capital unit will work as an independent body under the SCOPE ambit. It will be responsible for nurturing, accelerating, bringing out the promising startups that demonstrate exceptional potential to change the World.
It noted that Fintech and Gaming industries have been witnessing unprecedented growth in the advent of technological development, ever-evolving behaviour of consumers and rising demand for innovative solutions. SCOPE recognises that and announced the funding.
Facilitation of mentorship, networking and capital funding
The recent initiative will come with an array of ways forward. It will facilitate a vast network of industry veterans, provide mentorship and will help about how to channelize capital. The venture will give preference to the partnership with visionary entrepreneurs. Additionally, it will identify the existing disruptive technologies, and the ones which will redefine industry norms among the Fintech and Gaming industry.
The venture capital unit will actively accept the collaborations and be assigned to monitor investment opportunities, as per the release. The VC arm will review strategic funding to potential startups, alternating their growth to scale current operations.
SCOPE, networking platform for entrepreneurs
Founded by a 20 year old Entrepreneur Apalla Saikiran, SCOPE is a networking platform, personalized and matches the budding entrepreneurs with like-minded individuals, content and provides opportunities. It is backed up by some successful partnerships and collaborations with over 20000 angel investors, more than 7,000 VCs, 200 family offices, and facilitation of funding for over 400 startups.
