500 Startups, a try organisation that successfully corroborated ride-hailing startup Grab, is doubling down with a second account focused on Southeast Asia.
Through a US$50 million Durian II fund, Managing Partner Khailee Ng skeleton to deposit in 200 seed-stage companies. Malaysia Venture Capital Management Bhd., a country’s largest try collateral firm, anchored a new fund, only as it did when a initial debuted in Jun 2014.
The initial Durian fund, named after a stinky pleasant fruit renouned in Southeast Asia, has done 500 Startups a many active early-stage financier in a region, participating in some-more than 26 percent of deals from a launch by to May 2016, according to CB Insights. Ng is acid for a subsequent Grab after being an early devotee of a app that is now pronounced to be valued during some-more than $3 billion.
“We de-risk by swelling opposite many companies and get a aloft luck to locate a unicorn,” Ng, 32, pronounced in an interview. “So distant that plan has proven in Southeast Asia and we are going to continue with that strategy.”
Other startups corroborated by a initial $25 million Durian account have been online marketplaces Carousell Pte and Bukalapak.com, as good as Indonesian shoe association Bro.do. The progressing account corroborated a sum of 119 startups, a entertain of that have lifted additional income while nothing have close down, according to Ng.
Local consumer brands like Bro.do, that has a cult-like following in Indonesia, will be one of a focuses of Durian II, Ng said.
500 Startups is investing in a segment with rising incomes and a flourishing population. Southeast Asia, that includes Singapore, Malaysia and Vietnam, is approaching to have 480 million internet users by 2020, according to a news by Google and Temasek Holdings Pte.
500 Startups sprinkles tiny amounts of income opposite a vast series of startups, reflecting first partner Dave McClure’s plan given he began creation angel investments with $300,000 he warranted after his employer PayPal went public. He started a Silicon Valley organisation in 2010 and has stretched to $250 million in resources with supports dedicated to Southeast Asia, a Middle East and Latin America. 500 Startups has invested in some-more than 1,500 companies opposite some-more than 50 countries so far.
Ng pronounced his possess knowledge as an businessman helps figure a investment strategy. At a age of 24 he began building his possess internet companies and by 30 had sole trending news site Says.com to Malaysia’s Catch Group and internal daily deals site GroupsMore to Groupon Inc.
“I’m betting on founders who will exist their competition,” he said.