In late 2012 500 startups launched two Micro funds by the names of “500 Luchadores” for Mexico and “500 Startup Wallah” focused on India. Following the similar trend of launching funds with strange and eye catching names, according to a SEC filing, yesterday it launched “500 Durians” a micro fund of $10 million for South East Asian Markets, as first reported by Techcrunch.
Khailee Ng, an entrepreneur in residence at 500 startups will be leading the newly launched fund “500 Durian “ in SEA markets as a new Venture Partner. Khailee is a Malaysian entrepreneur who co founded “Groups More” a group buying site acquired by Groupon and a social news company says.com which was recently merged with Catcha Media Berhad.
He was part of the Geek on the Plane initiative of 500 startups in 2011 and mentored & advised the 5th batch for the accelerator.
Earlier this month 500 startups unveiled 6th batch for its accelerator program which had presence from South east Asia, Greengar, a vietnam based startup. It also called for South East Asian startups to join its spring batch back in march.
This year accelerator has also entered into China with announcing Rui Ma as its first venture partner in Beijing. It already has representatives in India (Pankaj Jain ), Brazil & Latin America (Bedy Yang ) , Japan (George Kellerman ) and Mexico( César Salazar and Santiago Zavala) among others.
Incidentally the launch of the fund coincides with the 500 Startups, Geek On the Plane tour of SEA market which starts from June 1st and will pass through Singapore, Kuala Lumpur, Bangkok, and Jakarta.