<article>US-based accelerator and investment fund 500 Startups has more than doubled its South East Asia fund size to about $22.1 million, according to an <a style="color: #000080;" href="http://www.sec.gov/Archives/edgar/data/1577985/000157798515000002/xslFormDX01/primary_doc.xml" target="_blank">SEC filing</a>.</article>

US-based accelerator and investment fund 500 Startups has more than doubled its South East Asia fund size to about $22.1 million, according to an <a style="color: #000080;" href="http://www.sec.gov/Archives/edgar/data/1577985/000157798515000002/xslFormDX01/primary_doc.xml" target="_blank">SEC filing</a>.
<a style="color: #000080;" href="http://www.dealstreetasia.com/" target="_blank">DEALSTREETASIA</a> had first <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/500-startups-to-raise-20m-doubling-sea-fund-for-tech-startups-15025/" target="_blank">reported this development last month</a>, and the SEC filing now confirms that the fund size has been increased by another $7 million,
This marks the second time that 500 Startups has topped up this fund – called 500 Durians &#8211; which had launched with $10 million in 2013.
Since then, it has closed around 45 deals, via this fund, accounting for a third of 500 Startups’ investment in Asia. focusing on e-commerce marketplaces and innovative business.
The new investors in its 500 Durians fund are learnt to be Kuala Lumpur-based Genting Bhd., that owns Southeast Asia’s largest casino operator, and has invested about $3 million, and South Korea’s GS Home Shopping Inc.
In May this year, this portal had reported <a style="color: #000080;" href="http://www.500.co/" target="_blank">500 Startups</a> has beefed up its team in the region, even as it increases its focus on South East Asia with a slew of recent investments. The report said that the firm had hired angel investor and former INSEAD Entrepreneur-in-Residence, <a style="color: #000080;" href="https://sg.linkedin.com/in/arnaudbonzom" target="_blank">Arnaud Bonzom</a>, Director of Special Projects, for this region, and also got on board <a style="color: #000080;" href="https://www.linkedin.com/in/vishalharnal" target="_blank">Vishal Harnal</a>, formerly a senior associate with law firm Drew &amp; Napier, as an investment manager.
Within two months of the new team coming on board, 500 Startups had hiked its fund size by $5 million.
Related: <a style="color: #ff0000;" title="500 Startups strengthens South East Asia team with two new partners in Vietnam" href="http://www.dealstreetasia.com/stories/500-startups-strengthens-south-east-asia-team-with-two-new-partners-in-vietnam-10632/" rel="bookmark">500 Startups strengthens South East Asia team with two new partners in Vietnam</a>
<a style="color: #ff0000;" title="500 Startups tops up $5m more into 500 Durians SEA micro fund" href="http://www.dealstreetasia.com/stories/500-startups-injects-5m-more-into-500-durians-fund-to-support-se-asias-expansion-8758/" rel="bookmark">500 Startups tops up $5m more into 500 Durians SEA micro fund</a>
<a style="color: #ff0000;" title="500 Startups raises $85m for its third VC fund" href="http://www.dealstreetasia.com/stories/500-startups-raises-85m-for-its-third-vc-fund-11810/" rel="bookmark">500 Startups raises $85m for its third VC fund</a>
Its activities in South East Asia are not restricted to just the 500 Durians fund. The Silicon Valley venture-capital firm had raised a $10-million micro fund ‘500 Tuk Tuks’ in February this year to support startups in Thailand. This fund is run by Ookbee’s chief executive Nathavudh Pungchareonpong and a former US-based googler Ruangroj Poonpol.
In August this year, it had launched its <a href="http://500.co/distro-dojo-malaysia/" target="_blank">growth-stage acceleration service “Distro Dojo”</a> in Malaysia, with the Malaysian Global Innovation &amp; Creativity Centre (<a style="color: #000080;" href="http://mymagic.my/en/">MaGIC</a>).
Related: <a style="color: #ff0000;" title="500 Startups, MaGIC to launch growth-stage accelerator for SEA" href="http://www.dealstreetasia.com/stories/500-startups-magic-to-launch-growth-stage-accelerator-for-sea-9068/" rel="bookmark">500 Startups, MaGIC to launch growth-stage accelerator for SEA</a>
<a style="color: #ff0000;" title="Exclusive: 500 Startups looking to make 17 new investments in Vietnam" href="http://www.dealstreetasia.com/stories/exclusive-500-startups-to-invest-in-17-more-vietnamese-startups-7576/" rel="bookmark">Exclusive: 500 Startups looking to make 17 new investments in Vietnam</a>
In the same month, as reported by this portal here, it further strengthened its team in South East Asia by bringing on board two more partners for the Vietnam market, where it had already made four investments. These partners were <a style="color: #000080;" href="http://500.co/team/binh-tran/">Binh Tran</a> who has more than 20 years of experience in tech and <a style="color: #000080;" href="http://500.co/team/eddie-thai/">Eddie Thai</a> who is in the <a style="color: #000080;" href="http://event.forbesvietnam.com/under30summit/list">Forbes</a> list of most influential Vietnamese under-30, and brings experience in tech, media, and telecommunications both in the US and Vietnam.
Earlier this week, Singapore-based fintech startup Call Levels, that provides real-time financial monitoring and alert services, which are designed to help traders monitor financial assets price movements easily on mobile, had announced it had close a pre-series A round led by 500 Startups.
Also Read: <a style="color: #ff0000;" title="Singapore fintech firm Call Levels raises $500K pre-Series A funding led by 500 Startups" href="http://www.dealstreetasia.com/stories/singapore-fintech-firm-call-levels-raises-500k-pre-series-a-funding-led-by-500-startups-18057/" rel="bookmark">Singapore fintech firm Call Levels raises $500K pre-Series A funding led by 500 Startups</a>
<a style="color: #ff0000;" title="Asset financing firm Origa raises $1m from 500 Startups, ah!Ventures" href="http://www.dealstreetasia.com/stories/india-asset-financing-firm-origa-raises-1m-from-500-startups-ahventures-and-others-17420/" rel="bookmark">Asset financing firm Origa raises $1m from 500 Startups, ah!Ventures</a>
<a style="color: #ff0000;" title="Thai co-working space HUBBA raises $350K pre-Series A from 500 Startups, Ardent Capital, Golden Gate Ventures" href="http://www.dealstreetasia.com/stories/thai-co-working-space-hubba-raises-350k-pre-series-a-from-500-startups-ardent-capital-golden-gate-ventures-16555/" rel="bookmark">Thai co-working space HUBBA raises $350K pre-Series A from 500 Startups, Ardent Capital, Golden Gate Ventures</a>
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US-based accelerator and investment fund 500 Startups has more than doubled its South East Asia fund size to about 22.1 million, according to an SEC filing

500 Startups doubles its Southeast Asia Fund to $22m

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500 Startups doubles its Southeast Asia Fund to $22m

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