SCOPE gets SEBI nod to launch USD 50 million Venture Capital Fund

Start-up networking platform SCOPE has received market regulator SEBI nod to launch a USD 50 million venture capital fund which will invest in high-potential startups in the fintech and gaming sectors with a focus on India and the US, the company said on Friday.

SCOPE's venture capital fund will offer investments ranging from USD 500,000 to USD 2 million per startup in the early stage of the business.

"SCOPE has taken another major step in the entrepreneurial ecosystem with the launch of its new USD 50 million venture capital fund under its investment banking arm, SCOPE VC. This fund is specifically designed to invest in high-potential startups in the fintech and gaming sectors, with a focus on India and the US," the company said in a statement.

The company had received a nod for a USD 45 million fund with a green shoe option of USD 15 million. It has received fresh approval to raise the basic fund size from USD 45 million to USD 50 million, SCOPE, Founder and CEO, Appalla Saikiran said.

"Fintech in India and gaming in the U.S. Are showing tremendous growth, and we believe there is a significant opportunity to invest in startups that will define the future of these industries. We plan to close this fund in another 5-9 months," Saikiran said.

He said that the plan is to invest the entire fund in the start-ups over a period of 5-7 years.
"We are bullish about the potential of fintech in India and the gaming sector in the U.S. These industries are not just growing; they are 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 said.

He said SCOPE VC plans to launch another USD 20 million angel fund within the next three months which will target even earlier-stage startups.