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500 Startups Announces $50 million New Fund For Southeast Asian Startups

500 Durians, the regional wing of 500 Startups, the silicon valley based global startup accelerator, has announced a $50 million second regional fund for early-stage startups in the region. With the new fund, the firm plans to invest in around 200 more seed stage companies from US$50,000 to US$150,000. It will also continue to remain sector-agnostic, investing in a wide variety of industries.

This indicates a growing interest of global investors in the region’s burgeoning startups ecosystem.

500 Durians, led by 500 Startups’ managing partner Khailee Ng in Southeast Asia, started in 2013 with a US$10 million fund. It was later increased to over US$25 million. The fund invested in a total of 119 startups, including Uber rival of the region Grab, social commerce marketplace Carousell, and Indonesian ecommerce company Bukalapak. With this second fund, 500 Durians aims to invest more in seed stage startups.

Mohammad Ruhul Kader is a Dhaka-based entrepreneur and writer. He founded Future Startup, a digital publication covering the startup and technology scene in Dhaka with an ambition to transform Bangladesh through entrepreneurship and innovation. He writes about internet business, strategy, technology, and society. He is the author of Rethinking Failure. His writings have been published in almost all major national dailies in Bangladesh including DT, FE, etc. Prior to FS, he worked for a local conglomerate where he helped start a social enterprise. Ruhul is a 2022 winner of Emergent Ventures, a fellowship and grant program from the Mercatus Center at George Mason University. He can be reached at ruhul@futurestartup.com

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