Following the close of a US $140 million global flagship fund, global accelerator-cum-venture fund 500 Startups has been renamed as 500 Global.
500 Global has raised its largest fund to date, increasing its total assets under management to $1.8 billion.
500 Global will broaden its investing approach beyond accelerator and seed-stage companies to the latter phases of a company’s growth with this new fund. Limited partners can also participate in later-stage co-investment possibilities to help the company develop its investment strategy.
500 Global, based in Silicon Valley, invests in early-stage startup entrepreneurs who are creating fast-growing digital firms. Markets, where technology, innovation, and capital can unleash long-term value and promote economic growth, are among the firm’s areas of focus.
500 Global, according to a news release, has invested in 33 businesses that have achieved unicorn status, with valuations above $1 billion. Its portfolio includes over 120 businesses worth more than $100 million.
Talkdesk, Canva, Grab, Shippo, and others are among its notable portfolio businesses. It also participates in the pre-seed to IPO round of e-commerce company Bukalapak, which just had Indonesia’s largest-ever IPO.
“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 has a network of 6,000 entrepreneurs who represent over 2,500 businesses in 77 countries.
500 Global has expanded its operations 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. 500 Startups renamed its Southeast Asia fund from 500 Durians to 500 Southeast Asia last month.
Global VC funds have invested the record-breaking US $268.7 billion so far in 2021, according to Refinitiv statistics, boosted by the pandemic-induced digital revolution throughout the globe, surpassing their total investments of US $251.2 billion a year earlier.
