500 Global CEO and Founding Partner Christine Tsai
Global accelerator-cum-venture fund 500 Startups announced today it has rebranded as 500 Global, following the closing of a US$140 million global flagship fund.
This marks 500 Global’s largest fund to date, bringing its total assets under management to US$1.8 billion.
Under this new fund, 500 Global will expand its investment strategy beyond the accelerator and seed-stage to the later stages of a company’s growth. It also offers later stage co-investment opportunities to limited partners to expand its investment strategy.
Founded in Silicon Valley 11 years ago, 500 Global invests in early-stage startup founders building fast-growing technology companies. The firm’s sectors of interest include markets where technology, innovation, and capital can unlock long-term value and drive economic growth.
According to a press statement, 500 Global has invested in 33 startups, which have attained unicorn status with valuations above US$1 billion. More than 120 startups in its portfolio are valued at over US$100 million.
Some of its prominent portfolio companies are Talkdesk, Canva, Grab, Shippo, and more. It also joins pre-seed to IPO round of e-commerce startup Bukalapak, which has just enjoyed Indonesia’s biggest-ever listing in August.
“As venture capital continues to globalise and the percentage of unicorns from outside the US increases further, 500 Global has deep expertise and a strong track record of investing in markets around the world,” said Christine Tsai, CEO and founding partner of 500 Global.
The firm boasts a network of 6,000 founders representing more than 2,500 companies across 77 countries.
Not only does it have a presence in Silicon Valley, but 500 Global has also broadened its activities in Latin America and East Asia in 2011, the Middle East in 2012, Africa in 2013, and Southeast Asia in 2014. Last month, 500 Startups has rebranded its Southeast Asia fund from 500 Durians to 500 Southeast Asia.
According to Refinitiv data, buoyed by the pandemic-induced digital transformation across the world, global VC funds have invested record-breaking US$268.7 billion so far in 2021, exceeding their total investments of US$251.2 billion a year earlier.
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Image credit: 500 Global
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