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.FUNDRAISERS: Don't miss PartnerConnect East 2018 on March 19-21 in Boston, with more than 150 speakers, 200 LPs and 300 fund managers, bankers and lenders. CLICK FOR DETAILS!