Early Grab Backer Raises Southeast Asia Fund Amid Tech Rout
- 500 Global has more than $2 billion in assets under management
- New fund will back early-stage startups in the region
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500 Global, one of the most active early-stage venture investors in Southeast Asia, raised $143 million to ramp up investments in the region and take advantage of a market rout that’s pummeled tech company valuations.
The sum includes a new $100 million venture capital fund focusing on early-stage startups, the company said in a statement on Wednesday. The rest will be for a separate growth-stage vehicle. Investors include Malaysia’s pension fund Kumpulan Wang Persaraan Diperbadankan and sovereign wealth fund Khazanah Nasional Bhd., as well as some of its portfolio companies.