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500 Startups Is Raising A $10M ‘TukTuks’ Fund In Thailand

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.

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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.

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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.

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By Karen Lee

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Following the February 1 coup, Myanmar’s netizens became the latest to join the #MilkTeaAlliance, an online collective of pro-democracy youth across Asia.

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How will oil prices shape the Covid-19 recovery in emerging markets?

Oxford Business Group

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How will oil prices shape the Covid-19 recovery in emerging markets?
– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
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A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.

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In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.

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