Since its launch in 2010, 500 Startups has made a ton of investments in international startups. Founder Dave McClure is a strong believer that good talent can be found all over the world, not just in Silicon Valley, and so has been sourcing deals in multiple international markets for a while now. We can expect more of that, as the firm is raising a couple of micro funds aimed at specific markets.
Yesterday, the firm filed an SEC document for a 500 StartupWallah fund, which presumably would be focused on investments in India. And today, a document surfaced for a 500 Luchadores fund, for investing in Mexican startups. With each of the filings, 500 Startups seeks to raise $5 million for those regions.
500 Startups wouldn’t comment on the filings, but the funds are being raised as the firm has been making significant moves to reach certain specific markets. Last month, 500 Startups brought Pankaj Jain on board as a venture partner to focus on the Indian market. Earlier, it acquired startup accelerator Mexican.VC to focus on investments there.
While it raised a $50 million fund in April, it’s possible that 500 Startups will do more micro funds for specific regions that it’s focused on, like Brazil. In addition to Mexico and India, 500 startups has been looking at Brazil and other parts of Latin America, with the help of venture partner Bedy Yang. And venture partner George Kellerman joined earlier this year as well to focus on the Japanese market.
The firm is also continuing to support international startups through its 500 Startups Accelerator, where more than half of the participating companies in the latest class are from overseas.
500 Startups is an early-stage seed fund and incubator program located in Mountain View, CA. They invest primarily in consumer & SMB internet startups, and related web infrastructure services. Their initial investment size is typically $25K-$250K. Selected areas of interest include financial services & e-commerce, search/social/mobile platforms, personal & business productivity, education & language, family & healthcare and web infrastructure.
Dave McClure is a venture capitalist & the founding general partner at 500 Startups, an internet seed fund and startup accelerator program in Mountain View, CA. Dave has been geeking out in Silicon Valley for over twenty years, and has worked with companies such as PayPal, Mint, Founders Fund, Facebook, LinkedIn, SlideShare, Twilio, Simply Hired, O’Reilly Media, Intel, & Microsoft. He also likes to play ultimate frisbee when his knees don’t hurt. Dave has been an investor in over 100...