500 Global Managing Partner Khailee Ng
Global early-stage VC firm 500 Global has raised US$143 million for its third early-stage fund (500 Southeast Asia III) and growth investment vehicle for Southeast Asia.
The Limited partners (LPs) across its early-stage and growth investment vehicles include a sovereign wealth fund, public and private pension funds like Khazanah Nasional Berhad, Kumpulan Wang Persaraan (Diperbadankan) [KWAP], and Employees Provident Fund (EPF).
A university endowment, family offices of prominent global investors, and portfolio companies valued at over US$1 billion from 500 Global’s first Southeast Asia early-stage fund also invested.
Originally targeted for US$75 million, 500 SEA III closed at US$100 million, with over half of the fund coming from returning LPs. The early-stage fund will invest in businesses and AI-enabled technologies that advance rural digitalisation, sustainable cities, human and machine productivity, healthcare, food security and financial inclusivity.
500 SEA III aims to invest between US$250,000 and US$500,000 in 100 pre-seed to Series A startups across Malaysia, the Philippines, Vietnam, Thailand, Singapore, and Indonesia.
Also Read: Ex-Ninja Van PH country head Martin Cu joins 500 Global as partner for SEA
500 Global’s past Southeast Asia investments include US$5-20 million cheques in Series C to D rounds of portfolio companies such as Carousell (2018), Carsome (2021), and most recently eFishery (2023). It has backed over 340 companies in the region. Its other major portfolio firms include Grab, Bukalapak, and FinAccel.
Recently, 500 Global appointed Saemin Ahn, Shahril Ibrahim and Martin Cu as Partners to lead the VC firm’s growth equity practice across the region, supporting and nurturing startups at every stage of their growth.
500 Global — a multi-stage venture capital firm with US$2.4 billion in assets under management — has backed over 5,000 founders representing more than 2,800 companies operating in 80+ countries. It has invested in 35+ companies valued at over US$1 billion and 160+ companies valued at over US$100 million (including private, public, and exited companies). Its 90+ team members are located in over 25 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.
The post 500 Global raises US$143M for early-stage and growth vehicles in SEA appeared first on e27.