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.
Ibrahim works as an Intern at FS. He takes interviews, writes features, and meets entrepreneurs and makers and doers.