Scope, a venture capital firm focused on fintech and gaming sectors, has announced the launch of its second fund with a target corpus of $45 million. The fund will invest in early-stage startups that are building innovative solutions for the digital economy.
Scope’s investment thesis and portfolio
Scope was founded in 2021 by Ankit Agarwal and Rishi Kapoor, who have over a decade of experience in investing, operating, and scaling startups in India and Southeast Asia. The firm’s first fund of $15 million was fully deployed in 18 startups across fintech, gaming, edtech, and consumer sectors.
Some of the notable portfolio companies of Scope include:
- Zolve, a cross-border neo-banking platform that enables global citizens to access financial products and services across geographies.
- Gamezop, a social gaming platform that allows users to play casual games and earn money.
- Kaarva, a salary advance platform that provides instant access to funds for salaried employees.
- FanPlay, a gamified social commerce platform that enables influencers and creators to monetize their content and audience.
Scope’s investment thesis is based on the belief that fintech and gaming are two of the most exciting and fast-growing sectors in the digital economy, driven by the increasing adoption of smartphones, internet, and digital payments. The firm aims to partner with founders who are building scalable and sustainable businesses that leverage technology, data, and network effects to create value for customers and stakeholders.
Scope’s new fund and focus areas
Scope’s second fund of $45 million will continue to focus on fintech and gaming sectors, with a special emphasis on the following themes:
- Embedded fintech, which refers to the integration of financial services into non-financial platforms, such as e-commerce, social media, gaming, and content.
- Gaming as a service, which refers to the evolution of gaming from a product to a service, where users can access a variety of games and features on demand, without downloading or installing anything.
- Metaverse, which refers to the convergence of physical and virtual worlds, where users can interact, socialize, and transact in immersive and persistent digital environments.
Scope plans to invest in 25 to 30 startups from its second fund, with an average ticket size of $1 million to $2 million. The firm will also provide follow-on funding and support to its existing portfolio companies.
Scope’s vision and mission
Scope’s vision is to become the leading VC firm for fintech and gaming startups in India and Southeast Asia. The firm’s mission is to empower entrepreneurs who are building the future of the digital economy. Scope believes that fintech and gaming are not only sectors, but also enablers and catalysts for innovation and growth across industries and markets.
Scope’s co-founder and partner Ankit Agarwal said, “We are excited to announce the launch of our second fund, which reflects our conviction and commitment to the fintech and gaming sectors. We believe that these sectors have immense potential to create positive impact and value for millions of consumers and businesses in India and Southeast Asia. We look forward to partnering with passionate and visionary founders who are building the next wave of disruptive and scalable startups in these sectors.”
Scope’s co-founder and partner Rishi Kapoor said, “We are grateful to our existing and new investors, who have shown their trust and confidence in our team and strategy. We are also proud of our portfolio companies, who have demonstrated resilience and growth in the face of the pandemic and other challenges. We are confident that our portfolio companies will continue to lead and shape the fintech and gaming sectors in the coming years. We are also eager to discover and support new startups that are solving real problems and creating new opportunities in these sectors.”
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