Silicon Valley based, Startup accelerator, 500 Startups has recently closed its second fund with USD 44.1 million in capital, as per the reports in CNN. Though Dave McClure denied commenting on the fund raising but said that 500 Startups has “learned a hell of a lot” since its initial launch.
Previously there were reports, that 500 Startups was raising USD 50 million as its second fund target, though it failed reaching the target but its about a USD 29.6 million jump from the first fund that it picked in 2011.
Launched back in 2010, 500 Startups has made around 500 investments in 35 countries. It runs an accelerator program twice a year, providing mentorship, bootcamps, and the tools needed by the startup and also provides early-stage companies of up to USD 250K. With this it also runs unique events like SmashSummit, UnSexy, and GeeksOnaPlane.
Previously, 500 startups has also announced a USD 10 million fund i.e. 500 Durian focused on South East Asian Markets. In 2012, it had also launched two Micro funds “500 Buchadores” for Mexico and “500 Startup Wallah” for India.
The accelerator is soon going to start with its 007Batch.
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