Southeast Asian actor Ashraf Sinclair departs 500 Startups

Photo: Ashraf Sinclair's website

British-Malaysian actor Ashraf Sinclair has departed early-stage venture capital firm 500 Startups two years after joining it as a venture partner.

“Over 2 years ago, Ashraf signed on as a venture partner, which is a part-time role to assist in investing and managing select Indonesian portfolio companies. We’ve had a marvelous two years and many adventures together, which is way more than what we can ask for from a part-time role,” Ashraf Sinclair and 500 Startups managing partner for Southeast Asia Khailee Ng said in a joint statement.

“As his roster of personal projects is developing, he is now dedicating his full-time effort to nurture them. We’re so grateful and happy about his next chapter. In the meantime, our team continues to expand and we’ve multiple open positions in the region, and have much in store for our investing activity in Indonesia,” the statement said.

Ashraf, who is a well-known actor in Malaysia and Indonesia, was appointed as a venture partner in May 2017 and was responsible for deploying capital from the firm’s 500 Durians Funds II into Indonesian startups.

Ashraf told DealStreetAsia that he will continue to be an angel investor, with a focus on startups in the area of sustainability. He runs numerous businesses, including restaurants, gyms and production houses.

In Southeast Asia, 500 Startups last closed its Vietnam fund at $14 million, surpassing an original target of $10 million, in November 2018. Its portfolio companies in the region include Grab, Bukalapak, Fabelio and Alodokter.