TLDR:
- Scope is launching a new $15 million angel fund for startups after the success of their $45 million VC fund.
- The new angel fund will be modeled on the Village Global concept and involve high-net-worth individuals acting as angel investors.
Scope to Launch $15 Million Angel Fund Following VC Success
Networking and fundraising platform Scope has announced the launch of a new $15 million angel fund for startups, following the success of their $45 million venture capital fund. The founder and CEO, Appalla Saikiran, revealed in a recent interview that the fund will start by October this year.
The new fund will be modeled on the Village Global concept, known for its network of 400 top founders such as Jeff Bezos and Bill Gates. It will function like syndicate funds, where a group of investors pool their money to invest in different deals. About 35 high-net-worth individuals (HNIs) will act as founders-cum-angel investors.
Scope, established in 2021, currently has a network of more than 20,000 angel investors, 5,000 VCs, and 400 family offices. The platform facilitates funding for startups and looks for seed or pre-series A funding opportunities. It has helped at least 400 startups with funding, connecting them with investors such as Sequoia, Andreessen Horowitz, Lightspeed, and NEA.
The new angel fund is expected to attract investors from the existing pool of Scope and will not only focus on fintech and gaming startups but will cover more sectors. The fund will support startups by introducing them to new customers, helping them find co-founders, offering expert advice, assisting with hiring, and connecting them with other founders.
Overall, this new angel fund from Scope aims to provide valuable support and funding for startups in various sectors, enhancing their growth and success in the competitive market.
