Venture capital firm 500 Global has successfully closed its 500 Southeast Asia III fund, amassing $143 million in capital. It is the firm’s largest early-stage fund dedicated to Southeast Asia. It serves as its primary investment vehicle for startups throughout the region’s growth journey, from pre-seed stages to the cusp of initial public offerings (IPOs).
Established in 2010 and headquartered in San Francisco, 500 Global has a portfolio with $2.4 billion in assets under management. The firm has played a pivotal role in nurturing startups, supporting over 2,800 companies spanning more than 80 countries.
With a diverse team comprising approximately 190 individuals, including entrepreneurs, investors, and operators, 500 Global operates across a network of over 25 countries. The firm’s expanded investments in the region aim to contribute significantly to developing startups and emerging technologies.
Recently, 500 Global has sealed the deal on its third early-stage fund in Southeast Asia, surpassing its initial target of $75 million. This fund, known as 500 Southeast Asia III, is expected to support founders across Southeast Asia at various stages of development, ranging from pre-seed funding to the precipice of launching IPOs.
It’s important to note that 500 Global’s Southeast Asia III fund has secured $100 million in capital, with the additional $43 million designated for the growth vehicle, not for early-stage investments.
With this, 500 Southeast Asia III is set to channel its investments primarily into businesses and technologies driven by artificial intelligence (AI) that facilitate rural digitalization, sustainable urban development, human-machine collaboration, advancements in healthcare, food security, and financial inclusivity.
The fund aspires to support 100 startups spanning pre-seed, seed, and Series A stages, offering initial investments ranging from $250,000 to $500,000. These investments will be directed toward startups based in Indonesia, Malaysia, Thailand, Singapore, Vietnam, the Philippines.
The limited partners backing the fund include Khazanah Nasional Berhad, Kumpulan Wang Persaraan, and the Employees Provident Fund. Additionally, it has investments from a university endowment, family offices, and portfolio companies with valuations exceeding $1 billion from 500 Global’s initial Southeast Asia early-stage fund.
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