500 Startups rebrands to 500 Global; closes largest fund to date at US$140m

VENTURE capital firm 500 Startups has rebranded to 500 Global and closed its largest fund to date at US$140 million, bringing its assets under management to US$1.8 billion.

It will continue to invest at the accelerator and seed stage, as well as at the later stages of a company's growth, it said in a press statement on Thursday.

500 Global has begun to write larger investments into companies, leading or co-leading fundraising rounds, and offering later-stage co-investment opportunities to limited partners, it added.

500 Global chief executive and founding partner Christine Tsai said: "We're excited to expand our scope to back even more founders globally, from first check to last. Our new brand reflects this vision."

The firm's portfolio includes companies such as ride-hailing player Grab, e-commerce company Bukalapak, graphic design platform Canva, cloud contact centre solution provider Talkdesk and US software company Shippo.

It has yielded 33 companies valued over US$1 billion, more than 120 companies valued over US$100 million, and backed more than 6,000 entrepreneurs across 77 countries. It started investing in companies located in South-east Asia in 2014.