500 Startups rebrands as 500 Global, expands strategy to later-stage companies
September 16, 2021
500 Startups, a venture capital firm and accelerator that has made hundreds of small bets in seed- and early-stage companies since its founding in 2010, is rebranding as 500 Global and expanding beyond its roots with a new $140 million flagship fund that will target later-stage businesses.
- The latest fund is the firm's largest vehicle to date. It brings the firm's total assets under management to $1.8 billion.
- The new strategy will allow the firm to invest in successful portfolio companies as they mature, lead later-stage rounds and offer co-investment opportunities to limited partners.
- In addition to its flagship funds, 500 Global manages regional funds in countries like South Korea, Thailand and Vietnam. The firm's portfolio includes 33 unicorns, including Australia-based Canva, worth $40 billion, and Singapore's Grab, which has announced plans to go public via a SPAC at a nearly $40 billion valuation.
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