500 Startups Adds More Fund For Southeast Asia
500 Startups, the US based early-stage seed fund and incubator program focused on consumer and small- and medium-sized internet startups, has increased its fund for the Southeast Asian region by $5.00 million. The total size of fund now stands at $15 million.
Back in 2013 the incubator launched a fund for Southeast Asia under the name 500 Durians’ — the micro fund that serves this part of the world. Previously, 500 Startups raised a $10 million micro fund dedicated to Thailand, one country that 500 Durians covers.
TechCrunch reports, the new capital was confirmed by a U.S. filing, which showed that the fresh addition to the 500 Durians fund is not yet closed.
It is relevant to mention here that 500 startups previously invested an undisclosed amount in Bangladeshi startup Chaldal.
This new addition to 500 Startups Asia fund signals that the incubator is expecting to invest more in Asian startups in coming. 500 Durians has already made 40 plus investments in Asia, especially in Thailand.
Ibrahim works as an Intern at FS. He takes interviews, writes features, and meets entrepreneurs and makers and doers.