Renowned venture capital firm 500 Global, headquartered in San Francisco, has announced the successful closure of its third Southeast Asian early-stage fund, amassing a substantial $143 million. This achievement significantly surpassed the fund’s original target of $75 million, underscoring the strong interest and confidence in Southeast Asia’s burgeoning tech landscape.
The newly established 500 Southeast Asia III fund is poised to support entrepreneurs and innovators across Southeast Asia, providing critical funding from pre-seed stages through to the pre-initial public offering (IPO) phase. Notable limited partners in this endeavor include prominent institutions such as Khazanah Nasional Berhad, Kumpulan Wang Persaraan, and Employees Provident Fund. Additionally, a diverse group of investors, comprising a university endowment, family offices, and portfolio companies valued at over $1 billion, who were beneficiaries of 500 Global’s inaugural Southeast Asia early-stage fund, have also joined this venture.
Christine Tsai, CEO, and founding partner of 500 Global, emphasized the firm’s enduring belief in the immense potential and opportunities within Southeast Asia. In a statement, Tsai remarked, “With a global portfolio of over 2,800 companies across more than 80 countries, we believe that the founders in Southeast Asia will benefit from one of the few truly global venture platforms with deep local roots and in-market expertise. We’re confident that with access to insights, connections, and capital, this can help the next generation of Southeast Asian founders build global tech giants.”
As of June 30, 2023, 500 Global manages an impressive $2.4 billion in assets, reaffirming its position as a major player in the world of venture capital. This latest fund underscores the firm’s commitment to fostering innovation and supporting emerging tech enterprises across Southeast Asia.
