Global early stage venture capital firm 500 Startups has launched its second fund, 500 Durians II for Southeast Asia.
According to a regulatory form filed with the SEC, the firm has launched 500 Durians II, L.P., which aims to raise $50m. The doc, published on December 21, 2016, shows no money have been raised, yet.
Anyways, according to a post appeared on October, 4th, on 500 Startups’ site, the funding for 500 Durians II was entirely kickstarted by inside investors from the first fund, with Malaysia Venture Capital Management Berhad (MAVCAP) returning to anchor it.
Led by Khailee Ng and Vishal Hamal, the fund aims to invest $50K to $150K in approx. 200 startups alongside other local seed stage and angel investors.
The vehicle will also make follow-on investments with up to $500K of additional capital in companies showing high growth.
To date, 500 Startups has invested in a total of 119 startups located the area.