Exclusive Details on 500 Global’s Monumental Fundraising
500 Global, the renowned venture capital firm, has successfully sealed a whopping US$143 million, marking its grandest early-stage fund targeting Southeast Asia to date. The fund, aptly named 500 Southeast Asia III, L.P. (500 SEA III), and its allied growth investment vehicle highlight the team’s unwavering dedication to back founders from the very start to the brink of their IPO.
A Glimpse into the Elite Partnerships
The Limited Partners (LPs) who have contributed to this considerable pool are nothing short of elite. This list includes a sovereign wealth fund and both public and private pension funds such as Khazanah Nasional Berhad, Kumpulan Wang Persaraan (Diperbadankan) [KWAP], and the Employees Provident Fund (EPF). Other esteemed investors include a university endowment, family offices of notable global investors, and portfolio companies that have reached a valuation surpassing US$1 billion from 500 Global’s initial Southeast Asian early-stage fund.
Delving into 500 SEA III’s Vision
This isn’t 500 Global’s maiden voyage into Southeast Asian waters. 500 SEA III is their third dedicated fund to the region, with each subsequent fund approximately doubling in size since 2014. Initially aimed at a target of US$75 million, 500 SEA III exceeded expectations by closing at US$100 million, with a notable chunk of the capital coming from previous LPs.
With an aim to bolster advancements in areas like rural digitalization, sustainable urban development, synergizing human and machine productivity, healthcare innovations, ensuring food security, and promoting financial inclusivity, the fund has a broad vision. They’re set to back 100 pre-seed to Series A startups, channeling first checks ranging from US$250,000 to US$500,000 across key ASEAN nations like Malaysia, the Philippines, Vietnam, Thailand, Singapore, and Indonesia.
KWAP’s investment in 500 Global began in the latter’s early days through its second Southeast
Asia early-stage fund. 500 Global has since grown considerably in strength to a multi-stage
investment platform, and remains instrumental in securing co-investment opportunities for
KWAP. We are encouraged by its efforts in developing the regional venture capital ecosystem,
and look forward to the successes that our ongoing collaboration will bring in optimizing KWAP’s
investment returns.
Hazman Hilmi Sallahuddin, Chief Investment Officer, KWAP.
We are pleased to continue our partnership with 500 Global, a venture capital manager with an
extensive investment track record globally. Additionally, in line with Khazanah’s Future Malaysia
Programme, an initiative under our Dana Impak (Impact Fund) mandate, we are excited about
their potential to facilitate the market expansion of start-ups via their Southeast Asia platform,
with the anticipation of creating new global champions.
Dato’ Amirul Feisal Wan Zahir, Managing Director, Khazanah Nasional Berhad
A Look Back at 500 Global’s Stellar Achievements
500 Global is no stranger to success in Southeast Asia. Their previous investments include notable checks for firms like Carousell, Carsome, and the most recent addition, eFishery. They’ve also encouraged their LPs to join them in handpicked investment opportunities. Strengthening their growth investing capacity, the team recently welcomed new Partners for Southeast Asia, fortifying their position in nurturing startups at every growth phase.
We have seen our platform produce a pipeline of high-quality growth stage opportunities which
we can underwrite with the added diligence of knowing the companies and founders over the
years. While we developed our growth stage capability investing over the years, we have also
added resources and new partners in line with our aim to support founders from pre-seed to
pre-IPO.
Vishal Harnal, Managing Partner, 500 Global.
We believe the next technology giants are being built now. History shows us that cyclical
downturns are typically succeeded by periods of high growth surpassing the preceding cycles.
Having been investing in Southeast Asia now for over a decade, we learned a thing or two
about supporting outstanding founders and companies to ride the next 10 years, to generate
highly competitive returns for our institutional investors and portfolio companies.
Khailee Ng, Managing Partner, 500 Global.
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We continue to believe in the strong potential and opportunities in Southeast Asia. With a
global portfolio of over 2,800 companies across more than 80 countries, we believe that the
founders in Southeast Asia will benefit from one of the few truly global venture platforms with
deep local roots and in-market expertise. We’re confident that with access to insights,
connections, and capital, this can help the next generation of Southeast Asian founders build
global tech giants.
Christine Tsai, CEO & Founding Partner, 500 Global.
A Decade of Excellence and Innovation
Over the past ten years, 500 Global has proudly backed over 340 companies spanning Southeast Asia. With early investments in billion-dollar companies like Grab, Bukalapak, and Carousell, their track record speaks volumes. They’ve persistently shown their commitment to early-stage founders in the region, underpinned by in-depth local knowledge that powers their multi-stage platform.
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