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.