There’s good news for startup founders and entrepreneurs in Southeast Asia after 500 Startups increased its $10 million fund for the region by a further $5 million.
500 Startups launched ‘500 Durians’ — the micro fund that serves this part of the world — back in May 2013. Given that time period and the 40-plus investments made from the fund to date, a top-up is long overdue. That’s particularly true considering 500 Startups raised a $10 million micro fund dedicated to Thailand, one country that 500 Durians covers, earlier this year.
Khailee Ng, 500 Startup’s managing partner based in Southeast Asia, declined to comment when TechCrunch contacted him about the raise.
The new capital was confirmed by a U.S. filing, which showed that the fresh addition to the 500 Durians fund is not yet closed.
Asia isn’t the only area of focus for 500 Startups right now. The firm just arrived in London with ‘Distro Dojo’, a three-month growth program for post-seed startups.