Global Opportunity Philly Fund (GO Philly Fund)

History

2019: Creation of fund

In February, 2019 the EPAM Systems company announced creation of Global Opportunity Philly Fund investment fund (GO Philly Fund) from which money will be selected to the technology companies, including developers a blockchain - and cryptocurrency solutions.

EPAM Systems acted as the leading investor and the participant of the advisory board of new venture fund. The Ben Franklin Technology Partners company will manage it.

Epam created fund for investments into a blockchain - and IT projects

The volume of fund will be $50 million. At the first stage EPAM Systems will transfer it $15 million, and startups will receive from $50 thousand to $500 thousand. Further investments will reach $3 million.

Thanks to the new investment project EPAM Systems hopes to strengthen the influence on regional a startup community and also to create opportunities for interaction of experts and clients of the company with "new authoritative specialists".

The companies which got support of fund will have access to a global ecosystem of the EPAM System company numbering more than 300 clients, 170 partners and over 50 universities and research institutes worldwide.

EPAM always helped business and software makers to become and remain leaders in the industries. Our new enterprise, joint with Ben Franklin, allows us to involve authoritative experts and authors of future disruptive ideas at the very beginning of their way, giving us the chance to see the future and to work together to make it real — the head of the company Arkady Dobkin noted.

 The marketing director and  the strategy of EPAM Elayna Shekhter adds that the new fund will become a basis for global model which the company will be able to use also in other regions for support of the innovation economic environment of startups.^[1]

Notes