SCOPE, an invite-only platform for start-ups, has announced the acquisition of an asset management license in the United States. This will allow the firm to manage assets directly and broaden its influence in the U.S. market.
SCOPE has secured an Asset Management License under the California Adviser Act of 1940, Section 275, enabling it to offer comprehensive asset management services to a diverse portfolio of clients, including institutional investors, high-net-worth individuals, and family offices.
As per the company statement, this move aligns with the firm's strategic vision of becoming a global leader in asset management, leveraging its extensive expertise in venture capital to provide value-added investment solutions.
SCOPE has also secured over $90 million to bolster its asset management arm. This fund will be pivotal in driving the firm’s investment strategies and enabling it to support a wider array of innovative start-ups.
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The company aims to focus its new asset management capabilities on high-growth sectors such as fintech, gaming, and other high-growth industries. Further, this development allows SCOPE to diversify its revenue streams, offer more tailored investment solutions, and deepen its engagement with portfolio companies.
With the license, SCOPE plans to position itself as a key player in the U.S. asset management landscape. The firm says that it will leverage its deep industry knowledge, extensive network, and innovative approach to attract and manage investments in high-potential start-ups.
The company raised around $6 million from the Partners Value Fund in January of this year to expand to the US market and tap further into the startup ecosystem. SCOPE also launched a $45 million venture capital fund focused on the fintech and gaming sectors in December last year. SCOPE VC operates as an independent investment banking arm under the SCOPE ambit to identify, nurture, and accelerate groundbreaking start-ups that demonstrate exceptional promise and disruptive potential.
