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This is 50% higher than its initial target of $10 million.
Everstone plans to acquire majority stake in Sri Kailash Logistics, while 500 Startups has put its Kulfi fund on hold. Also, Myntra has revived its incubation programme. Everstone to pick up majority stake in Sri Kailash Logistics for $30m Private equity major Everstone Capital is likely to acquire majority stake in Chennai-based Sri Kailash Logistics for nearly… Read more »
“If you build something that is technically defensible, you’ll have a better chance on selling your products and services to the region and beyond.”
Hong Kong-based logistics startup Easyship has raised an undisclosed amount of pre-series A funding from 500 Durians, a fund managed by 500 Startups.
500 Startups has witnessed the departure of its Greater China Partner Rui Ma who has set up her own fund-of funds.Meanwhile, Ontario Teachers’ Pension Plan has promoted Jo Taylor from being the Regional Managing Director for Europe, Middle East and Africa as the Senior Managing Director, International and will oversee pension plan’s presence in London and Hong Kong.
500 Startups and global tech investment group Susquehanna International are investors in this latest investment. The US early stage VC fund was an earlier backer of TicketBox in its seed round raised in 2014, along with Thai digital content provider Ookbee.
500 Durians II will invest between between $50,000 and $150,000 in seed-stage firms, with follow-on investments of up to $500,000 for those showing exceptional progress.
In 2015, Zeemi closed a seed funding round of more than $1 million. The investment round was led by the venture arm of Japanese firm DeNA and 500 Startups.
Silicon Valley Venture Capital firm 500 Startups is launching a $50 million fund — 500 Durians II– for Southeast Asia with the fund destined to invest in about 200 seed-stage companies in the region.