EPAM Investments into the ‘GO Philly Fund’, a Ben Franklin Tech Partners’ $50 Million Blockchain Venture
The EPAM Systems is a global provider when it comes to the provision of digital platform engineering together with software developments. The company has gone ahead to announce that they will be lead investors when it comes to the Global Opportunity Philly Fund, also referred to as the GO Philly Fund. Ben Franklin Technology has gone ahead to partner with the new enabled blockchain regional venture fund one that has been designed to focus on seed together with the early stages within technology companies.
With the agreement that they have established EPAM will go ahead to anchor the very first $15 million close plus also join the advisory committee within the GO Philly fund.
The fund is planning on making investments that will range between $50,000 and $500,000, and they will also ensure that they follow on in the current expenditures to about $3 million, this will all be following the due diligence process by Ben Franklin.
The EPAM Company Has A Lot To Offer
With the investments in place, the EPAM company is hoping to increase the current exposure of the company to ensure it has penetrated the startup community, plus also be in a position to create opportunities to attract the experts within the market to the company together with the diverse client base the company has. All this will be possible with the emerging thought leaders.
With the lead status that EPAM has, it will enable the fund portfolio to be able to gain the needed access to the rich global ecosystem of the company that has about 300 clients, about 170 partners and not forgetting the over 50 universities and research institutions that they have around the globe.
It is clear the EPAM country has been around to ensure that it helps the different enterprises that are within the industry and assist each in being a leader in every industry they are in. A statement from the CEO and the president of EPAM, Arkadiy Dobkin says all this better.
“EPAM has always been in the business of helping enterprises and software makers become, and stay, leaders in their respective industries. Our new venture with Ben Franklin allows us to engage thought leaders and future disruptors at the very beginning of their journeys, giving us an opportunity to glimpse the future, and work together to make it real.”
The EPAM company has been headquartered in Newtown, PA, where it has been able to employ over 650 technologies and consulting professionals within the market who are within the tremendous Pennsylvanian region. Let us not forget about its global presence which includes more than 30,000 employees who have been spread over 25 countries, together with the several Innovation Studios, delivery centers, and labs.
And from all this, the company is very pleased to be supporting the startup community that is within Philadelphia. As they have been able to offer top talent but establishing the needed network of accelerators and incubators within the market remains to be underserved within the venture capital funding.
But this will come to change soon as they take part in the Go Philly fund, as this is a clear platform that will bring the needed opportunities to make a significant change in the market. All this was well said by the Head of Strategy and CMO of EPAM, Elaina Shekhter.
“We hope that our participation in the GO Philly Fund will create more opportunities for our employees and hybrid teams, as well as become a global pattern that we can repeat to more effectively participate in the start-up innovation economy. Our goal of helping our clients become more competitive can only be achieved through direct engagement between EPAM experts and the full spectrum of innovators: from start-ups and business leaders to universities and leading research institutions.”
With the move that EPAM has made with the Go Philly fund will also bring a lot of benefits being reaped by both. According to a statement made by RoseAnn B. Rosenthal, who is the CEO and president of Ben Franklin, they are genuinely excited with the move.
“We are proud to have EPAM as our lead investor in the GO Philly Fund. As a thriving global technology company with headquarters in the Philadelphia region, EPAM’s mission-oriented approach makes them a fantastic partner for GO Philly Fund’s goal of sharing Philadelphia’s opportunity with the world, while growing more outstanding companies at home.”