500 Global wraps up third Southeast Asian fund at $143m

• 500 Southeast Asia III will back founders in Southeast Asia from pre-seed to pre-IPO
• The fund’s limited partners include Khazanah Nasional Berhad, Kumpulan Wang Persaraan and Employees Provident Fund
• 500 Global has $2.4 billion in assets under management as of 30 June 2023

San Francisco-based venture capital firm 500 Global has closed its third Southeast Asian early-stage fund at $143 million. The original target was $75 million.

500 Southeast Asia III will back founders in Southeast Asia from pre-seed to pre-IPO.

The fund’s limited partners include Khazanah Nasional Berhad, Kumpulan Wang Persaraan and Employees Provident Fund. Other investors include a university endowment, family offices and portfolio companies valued at over $1 billion from 500 Global’s first Southeast Asia early-stage fund.

“We continue to believe in the strong potential and opportunities in Southeast Asia,” said Christine Tsai, CEO & founding partner at 500 Global in a statement. “With a global portfolio of over 2,800 companies across more than 80 countries, we believe that the founders in Southeast Asia will benefit from one of the few truly global venture platforms with deep local roots and in-market expertise. We’re confident that with access to insights, connections, and capital, this can help the next generation of Southeast Asian founders build global tech giants.”

500 Global has $2.4 billion in assets under management as of 30 June 2023.