500 Startups tops up $5m more into 500 Durians SEA micro fund

Brand logo for 500startups

Silicon Valley-based venture capital fund and startup accelerator 500 Startups  has topped up another $5 million further to its micro fund “500 Durians”, reported by TechCrunch. This was confirmed by a securities and exchange commission (SEC) filing in the US.

The latest development comes close to the heels of the US-based seed fund and startup accelerator strengthening its team in Singapore by hiring angel investor and former INSEAD Entrepreneur-in-Residence Arnaud Bonzom as director of special projects for Southeast Asia and senior associate from Drew & Napier Vishal Harnal as investment manager.

Also Read500 Startups beefs up South East Asia team with two new hires in Singapore

In May 2013, 500 Startups set up 500 Durians to foray into the Southeast Asia for the first time, and up to now it has sealed more than 40 deals via this fund, accounting for a third of 500 Startups’ investment in Asia. focusing on e-commerce marketplaces and innovative business.

Apart from 500 Durians, it has raised a $10-million micro fund ‘500 Tuk Tuks’ in February this year to support startups in Thailand. The fund is run by Ookbee’s chief executive Nathavudh Pungchareonpong and a former US-based googler Ruangroj Poonpol.

The company also just kicked off ‘Distro Dojo’ for post-seed startups in London recently, thereby emphasizing that it does not focus only in Asia but wherever there is an opportunity.

Related stories:

Exclusive: 500 Startups looking to make 17 new investments in Vietnam

FPT Corp, 500 Startups to set up incubator for startups in Vietnam

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.