SCOPE Secures SEBI Approval for $50 Million Venture Capital Fund

SCOPE has received approval from SEBI to launch a $50 million venture capital fund aimed at investing in high-potential startups in the fintech and gaming sectors in India and the US. The fund will invest between $500,000 to $2 million per startup in their early stages.

Start-up networking platform SCOPE has obtained regulatory approval from SEBI to launch a $50 million venture capital fund targeting high-potential startups in the fintech and gaming sectors in India and the US, the company announced on Friday.

SCOPE VC will offer investments from $500,000 to $2 million per startup during the early stages of the business.

Founder and CEO Appalla Saikiran explained that the company had previously received approval for a $45 million fund with an additional $15 million green shoe option, making the new fund size $50 million.

Saikiran emphasized the significant growth in both the Indian fintech and U.S. gaming industries, asserting that these sectors present substantial investment opportunities. SCOPE aims to deploy the entire fund in startups over the next 5-7 years and plans to close the fund within 5-9 months.

Moreover, SCOPE VC intends to launch a $20 million angel fund within the next three months, focusing on even earlier-stage startups.

(With inputs from agencies.)