Startup-focussed networking platform Scope is raising $45 million (around Rs 375 crore) for its maiden venture capital fund that will primarily invest in fintech and gaming startups.
The VC arm will operate as an independent entity under the Scope umbrella, it said in a press statement.
“Scope recognises the immense opportunities presented by Fintech and Gaming. Both sectors have witnessed unprecedented growth, driven by technological advancements, changing consumer behaviours, and increasing demand for innovative solutions,” said the networking platform.
In addition to strategic capital, Scope will provide portfolio companies with mentorship and access to a vast network of industry experts. Startups will also get operational support from community members.
“Fintech and gaming are not just industries; they are 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,” said Appalla Saikiran, founder and chief executive officer of Scope.
Scope was founded by Saikiran in 2021. The networking platform connects entrepreneurs with like-minded individuals, curated content and other valuable opportunities.
It claims to have partnerships with more than 20,000 angel investors, 7000 venture capital firms, and 200 family offices. It also claims to have facilitated funding for more than 400 startups.
Scope also recently said that it helped startups raise approximately $70 million during the October to December 2023 quarter. It primarily helped in securing seed funding for startups, including fintech startup Wallex and stealth mode startup Bruder, among others.
