Annual global startup pitch competition Startup World Cup is launching a $50 million venture fund to invest in select winners of their global and regional competitions. The fund is intended to provide greater support to the startup ecosystems where the regional competitions and conferences are held that serve to bring entrepreneurs together with investors.
Silicon Valley based Fenox Venture Capital that founded the competition has existing investments in over 120 companies globally before this new fund. They have a strong focus on Artificial Intelligence, IT, Health Tech, Big Data, IoT, and other technology-related sectors. Their network spans the US, Europe, and Asia, and is leveraged to support and expand its portfolio companies.
“Together with our global partners, we put a major effort into attracting the most promising startup companies from around the world to compete in the Startup World Cup,” said Anis Uzzaman, CEO of Fenox Venture Capital and General Partner. “The goal of the Startup World Cup Fund is to support the best of these companies and to give our investors access to high-potential startups that they would not be able to invest in otherwise.”
Startup World Cup has a far reach, with their May 2018 Grand Finale bringing 28 regional startup winners from all over the world together. Going forward, the new fund will invest at least $1 million into the Grand Finale winner and additional investments into the best companies uncovered by the competition.
