Venture firm 500 Startups rebrands, closes largest fund 

Firm says its latest fund closure is worth $140mln

  
Image used for illustrative purpose. Convincing potential investors through crowdfunding may involve a lot of a start-up owner’s time and effort, but it is one of the risks that go with the SME territory.

Image used for illustrative purpose. Convincing potential investors through crowdfunding may involve a lot of a start-up owner’s time and effort, but it is one of the risks that go with the SME territory.

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Venture capital firm 500 Startups has announced the closing of a $140 million fund, its largest to date, taking the total value of assets under management (AIM) to $1.8 billion. 

The firm, which is also rebranding to 500 Global, said it has been expanding its investment strategy beyond the accelerator and seed stage. 

Its portfolio has yielded 33 companies valued over $1 billion and more than 120 companies valued over $100 million, including Talkdesk, Canva, Bukalapak, Grab and Shippo. 500 Global has also backed 6,000 entrepreneurs in 77 countries, the company said in a statement. 

“From the very beginning, our mission and investment thesis were anchored in the conviction that exceptional founders exist in all corners of the world. That led us to start investing in companies not just in Silicon Valley, but also in Latin America and East Asia in 2011, the Middle East in 2012, Africa in 2013, and Southeast Asia in 2014,” said Christine Tsai, CEO and founding partner of 500 Global. 

“That early conviction has resulted in an expansive, diversified global portfolio across many countries, sectors, and stages, with 46 percent of the companies based outside of the U.S.” 

500 Global will continue to invest at the accelerator and seed stage, as well as the later stages of company growth. 

“As venture capital continues to globalise and the percentage of unicorns from outside the US increases further, 500 Global is uniquely positioned with deep expertise and a strong track record of investing in markets around the world,” added Tsai. 

(Writing by Imogen Lillywhite; editing by Cleofe Maceda)   

imogen.lillywhite@refinitiv.com

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