500 Startups, the U.S. startup investor/accelerator with a reputation for backing startups across the world, is deepening its efforts in Asia with a new $10 million micro-fund for Thailand.

The organization launched a $10 million fund for Asia — ‘500 Durians’ — in 2013, but this new one — ‘500 TukTuks’, named after the iconic taxis pictured above — is dedicated to Thailand, a country where there are few VC firms.

500 Startups declined to comment on the fund when we contacted the company, but TechCrunch has reviewed pitch documents provided to investors and confirmed its existence with multiple sources within Thailand’s startup community.

The fund is not closed yet, but a formal announcement — including details of its first investment(s) — is expected to be made next month.

via 500 Startups Is Raising A $10M Fund In Thailand To Increase Its Focus On Asia | TechCrunch.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Will cryptocurrency expansion continue among emerging markets in 2022?

Emerging markets were at the forefront of last year’s massive growth in global cryptocurrency adoption. With this growth widely tipped to continue into 2022, a range of countries will see their crypto markets mature or expand.

Fintech: the natural response to a quarantined economy

During the global lockdown, MSMEs needed Financial Technology (fintech) to keep business operations going. FinTech companies also provided an intrinsic relief to business owners that were at risk of getting sick by continuing to operate manually.

Thailand leads the world in adoption of next-gen financial services

More change has occurred in Thailand’s banking scene in the last two years than had occurred during the previous ten years, with the rate of change continuing to accelerate at pace.