Seed-stage investor 500 Startups filed a regulatory document to raise 500 Durians II, its Southeast Asian fund. The firm announced in a blog post in October the fund and its intent to raise $50 million, which is twice the amount of Durians I. That inaugural fund was raised in 2014 with $10 million and was later increased to about $25 million. The second fund aims to invest in 200 seed-stage startups in Southeast Asia, with checks ranging from $50,000 to $150,000.
General partners in Durians II include 500 co-founders Dave McClure and Christine Tsai and Partners Vishal Harnal and Khailee Ng.
The latest filing for Durians does not indicate any commitments raised. LPs for Fund I include Malaysia Venture Capital Management Berhad (also known as MAVCAP), according to its website.DON'T MISS IT! After two successful conferences on the East Coast, we’re bringing our LPs and fund managers to San Francisco for the first annual Emerging Manager Connect West on May 11. Don’t miss out on insightful panels and great networking! CLICK HERE for details.