EPAM Systems, Inc.
(NYSE: EPAM), a leading global provider of digital platform engineering and software development services, today announced that it will be the lead investor for the Global Opportunity Philly Fund
(GO Philly Fund), Ben Franklin Technology Partners’ new blockchain-enabled regional venture fund focused on seed and early-stage technology companies.
With this investment, EPAM hopes to increase the company’s exposure to the regional startup community, as well as create opportunities to connect experts in the company, and the company’s diverse client base, with emerging thought leaders.
EPAM’s lead status will also enable the fund portfolio to gain access to the company’s rich global ecosystem of over 300 clients, 170 partners and over 50 universities and research institutions around the world.
The Fund’s feature is the ability to invest through cryptocurrency. After the main investors make the first $15 million, the fund will open a blockchain platform and start accepting cryptocurrency investments before the expected capital closes (another $ 35 million). This way the fund plans to simplify the investment procedure. Despite the non-standard potential investment opportunities, the fund will operate within the framework of the classic business venture.
Ben Franklin Technology Partners has been involved in programs for the economic development of technology enterprises for 31 years.
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its software engineering expertise to become a leading global product development, digital platform engineering, and top digital and product design agency. Through its ‘Engineering DNA’ and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver next-gen solutions that turn complex business challenges into real business outcomes. EPAM’s global teams serve customers in over 25 countries across North America, Europe, Asia and Australia. EPAM is a recognized market leader in multiple categories among top global independent research agencies and was one of only four technology companies to appear on Forbes 25 Fastest Growing Public Tech Companies list every year of publication since 2013.