500 Startups, one of the world’s most active venture capital firms, announced today the closing of a $140 million global flagship fund, the firm’s largest to date, bringing total assets under management to $1.8 billion. The firm, now branded as 500 Global, has been expanding its investment strategy beyond the accelerator and seed stage.
The 11-year-old firm’s global thesis has paid off: 500 Global’s first global flagship fund has a net TVPI of 11x, making it a top decile performer. Talkdesk, Canva, Bukalapak, Grab, Shippo, and other companies in the firm’s portfolio have a total value of over $1 billion and more than 120 companies with a value of more than $100 million. 500 Global has backed more than 6,000 entrepreneurs across 77 countries.
“From the very beginning, our mission and investment thesis was anchored in the conviction that exceptional founders exist in all corners of the world. That led us to start investing in companies not just in Silicon Valley, but also in Latin America and East Asia in 2011, the Middle East in 2012, Africa in 2013, and Southeast Asia in 2014. That early conviction has resulted in an expansive, diversified global portfolio across many countries, sectors, and stages, with 46 per cent of the companies based outside of the US,” says Christine Tsai, CEO and Founding Partner of 500 Global.
500 Global will continue to invest in the accelerator and seed stages, as well as the later stages of a company’s growth, as part of its expanded investment strategy. The firm has already begun to make larger investments in companies, as well as leading or co-leading fundraising rounds and offering limited partners later-stage co-investment opportunities.
“Today, global startup ecosystems are developing at a pace that has never been seen before. As venture capital continues to globalise and the percentage of unicorns from outside the US increases further, 500 Global is uniquely positioned with deep expertise and a strong track record of investing in markets around the world. We’re excited to expand our scope to back even more founders globally, from the first check to last. Our new brand reflects this vision,” adds Tsai.