SCOPE, the exclusive invitation-only networking platform for startups, has announced a USD 50 million venture capital fund under its investment banking arm, SCOPE VC. The fund is specifically designed to invest in high-potential startups in the fintech and gaming sectors, with a focus on India and the US.
SCOPE VC’s new fund will offer investments ranging from $500,000 to $2 million per startup, targeting early-stage companies that demonstrate innovation and disruptive potential. “Fintech in India and gaming in the US are experiencing phenomenal growth, and we believe there is a significant opportunity to invest in startups that will define the future of these industries,” said Appalla Saikiran, Founder and CEO of SCOPE.
The $50 million fund will focus primarily on two growing sectors: fintech and gaming. In India, the fintech sector is booming, driven by increasing digitalization and financial inclusion, while the gaming industry in the US is growing exponentially due to technological advancements and changing consumer behaviors.
“We are optimistic about the potential of fintech in India and the gaming sector in the US. These industries are not only growing; they are also transforming the way we live, work and interact with technology. Through this fund, we aim to empower visionary entrepreneurs who are building the next wave of innovation,” Saikiran added.
Mentoring to support startups
In addition to providing financial support, SCOPE VC plans to adopt a Y Combinator (YC)-style cohort model, providing selected startups with mentorship, corporate connections, and strategic resources. This will create a one-stop shop for founders, allowing them to access everything they need to effectively grow their businesses.
“Our goal is not just to fund startups, but to create a strong ecosystem in which founders can thrive. We plan to build cohorts of startups and provide them with access to mentors, business partners, and other resources they need to succeed,” Saikiran explained.
Upcoming expansion projects and angel funds
In line with its vision of creating a comprehensive support system for startups, SCOPE VC has also announced plans to launch a $20 million angel fund in the next three months. This fund will target even early-stage startups, providing them with the capital and guidance they need to take their first big steps.
“Our key indicator of success is not just financial returns, but also our ability to create a thriving ecosystem for startups. We want to be the go-to platform for founders, providing them with everything from capital and mentorship to strategic partnerships,” Saikiran said.