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.
Global fashion e-tailer Shein launches new hub in Singapore
Digital Revolution and Repression in Myanmar and Thailand
Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage of events on the ground.
Can border reopening revive tourism in South-East Asia?
In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19...
Thailand dropped from UK’s tough covid-19 travel ‘red list’
Earlier, Thailand was listed among countries with high infection levels that were put on a ‘red list’, requiring arrivals to...
The ASEAN-Russia Trade and Investment Cooperation Work Program
ASEAN and Russia recently agreed to enhance and widen economic cooperation at the 10th ASEAN Economic Ministers (AEM)-Russia Consultations held...
Flexible Workspace Startup Worklounge Debuts with 20+ Luxury Member Lounges in Thailand
Worklounge launches a premium membership granting remote professionals and executives access to exclusive hotel lounges across Thailand. Their platform is...
5 insights to guide ASEAN’s digital generation in a post-pandemic world
We surveyed 86,000 people from six ASEAN countries about their views for a post-pandemic world. The ASEAN Digital Generation Report...