Silicon valley based venture capital seed fund & startup accelerator 500 Startups has beefed up its team in the region, even as it increases its focus on South East Asia with a slew of recent investments here.
The first hire is angel investor and former INSEAD Entrepreneur-in-Residence, Arnaud Bonzom. Bonzom assumes the role of Director of Special Projects, Southeast Asia. The fund has also got on board Vishal Harnal, who will be serving as an investment manager, who was formerly a senior associate with law firm Drew & Napier.
500 Startups seemingly has a preference for people who are familiar with its business operating system and ethos. Their new Director of Market Development for Southeast Asia, Kim Ngo (who joined back in January) used to do business development for 500 portfolio company. With a record of 795 investments in 644 companies since its founding and cumulative fundraising of $256 million, 500 startups has been established in in Silicon Valley since 2010.
Based in Silicon Valley, 500 Startups is a venture capital seed fund & startup accelerator founder by former PayPal & Google alumni who have invested in hundreds of internet startups in 50 countries all over the world. Their core team possesses operational experience at multi-national firms like PayPal, Google, YouTube, Yahoo, Microsoft, eBay, LinkedIn, Twitter, Apple & Facebook.
Read our coverage on some of 500 Startups latest deals in this region:
With a presence around the world and a series of investments in Southeast Asia, these investments seem targeted at leveraging on the rise of Southeast Asia and the ASEAN markets as the latest investment destination. Investing in Southeast Asia, and particularly in Indonesia’s booming e-commerce marketplace, presents compelling opportunities for developers.
Most investments in Southeast Asia originate from the 500 Durian funds, which focuses on venture funding in Southeast Asia. This latest talent acquisition of positions 500 Startups for further expansion within Southeast Asia and the Asia Pacific, suggesting a willingness to explore ventures based in these markets on a deeper level.
The latest hires, both of whom are Asia-based, bring with them a wealth of experience and knowledge in negotiating the complexities of regional startup ecosystems.