SCOPE—an invite-only network platform to connect startups, investors, and industry experts—has raised $6 million from Partners Value Fund (PVF) with participation from various high-net-worth investors. The investment will help fuel SCOPE’s expansion plans and expand its global user base, it said in a statement.
The company seeks to further enhance its offerings to its growing global user base and support SCOPE’s strategic expansion into various markets. It aims to establish a footprint in key regions worldwide to better serve the needs of its stakeholders, it said in a statement on Tuesday.
The company also set up its investment banking arm in the US and opened a new office. With initial plans to hire 30-40 professionals, ranging from partners to investment analysts, the team is projected to be up and running by the end of the second quarter of this year, according to the company.
Moreover, the investment banking arm will leverage its existing network with US-based venture capital firms, which will be instrumental in supporting SCOPE’s expansion plans, it added.
“We are thrilled to have raised this significant amount of funding from SCG, PVF, and other HNIs. This financing round will fuel our expansion efforts, allowing us to broaden our reach and better serve our community members across the globe,” Appalla Saikiran, Founder and CEO of SCOPE, said.
In December, the firm launched a $45 million venture capital fund focused on driving innovation in the fast-evolving fintech and gaming sectors.
Edited by Kanishk Singh
