Firm Expands Strategy Beyond Accelerator and Seed Investments, Doubles Down on Global Thesis
SAN FRANCISCO, September 15, 2021--(BUSINESS WIRE)--500 Startups, one of the world’s most active venture capital firms, today announced the closing of a $140M global flagship fund--the firm’s largest fund to date--bringing assets under management to $1.8B.* Now rebranded as 500 Global, the firm has been expanding its investment strategy beyond the accelerator and seed stage.
The eleven-year-old firm’s global thesis has paid off: 500 Global’s first global flagship fund is a top decile performer with a net TVPI of 11x^. Overall, the firm’s portfolio has yielded 33 companies valued over $1B and more than 120 companies valued over $100M including Talkdesk, Canva, Bukalapak, Grab, Shippo, and more. 500 Global has backed more than 6,000 entrepreneurs across 77 countries.
"From the very beginning, our mission and investment thesis were 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% of the companies based outside of the U.S.," says Christine Tsai, CEO and Founding Partner of 500 Global.
In expanding its investment strategy, 500 Global will continue to invest at the accelerator and seed stage as well as the later stages of a company’s growth. The firm has already begun to write larger investments into companies, leading or co-leading fundraising rounds, as well as offering later stage co-investment opportunities to limited partners.
"Today, global startup ecosystems are developing at a pace that has never been seen before. As venture capital continues to globalize and the percentage of unicorns from outside the U.S. 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 first check to last. Our new brand reflects this vision," adds Tsai.
To learn more about 500 Global, please visit: https://500.co/.
About 500 Global
500 Global is a venture capital firm that invests early in founders building fast-growing technology companies. We focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. 500 Global has backed over 6,000 founders representing more than 2,500 companies operating in 77 countries. Our portfolio includes 33 companies valued at more than $1 billion and 120 companies valued at over $100 million. Our team members are located in more than 15 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.
*Assets under management are calculated in accordance with SEC Form ADV Part 1A Instruction 5.b. to include the current market value (or fair value) of all private fund assets and the contractual amount of any uncalled commitments to such private funds, together with the current market value of all other securities portfolios for which 500 Startups Management Company, L.L.C or its affiliates (collectively, 500 Global) provides ongoing discretionary investment management services, with market value determined using the same method used to report account values to clients or to calculate fees for investment advisory services. Assets under management may increase or decrease significantly after June 30, 2021.
^Quartile rankings data referenced herein is solely with respect to 500 Startups, L.P. (the "Fund") as of March 31, 2021. Such data is provided "as is" by Cambridge Associates at no cost to 500 Global. Rankings or similar groupings have inherent limitations and qualifications, such as limited sample size, imperfect access to information and other considerations. Past performance does not guarantee future returns. 500 Global calculates net TVPI as follows: (a)(i) net asset value of the Fund net of fees, expenses and carry, calculated using valuations that were marked up or down based on exits, closures, subsequent financings and discretionary estimates of market value (the "NAV") and dilution plus (ii) cash or cash equivalents held by the Fund plus (iii) distributions to fund investors minus (iv) liabilities of the Fund, divided by (b) contributed capital of the limited partners, in each case, as of June 30, 2021.
Companies valued in excess of $100M are a select sampling of investments across 500 Global’s family of funds. Such figures provide a snapshot of estimated valuation as at June 30, 2021 and may change.
This press release is intended solely to provide information regarding 500 Global. All content provided in this press release is provided for general informational or educational purposes only and is as of June 30, 2021 unless otherwise noted. 500 Global makes no representations as to the accuracy or information contained in this press release. Under no circumstances should any information or content in this press release be considered as an offer to sell or solicitation of interest to purchase any securities advised by 500 Global or any of its affiliates or representatives. Further, no content or information contained in this press release is or is intended as an offer to provide any investment advisory service or financial advice by 500 Global. Under no circumstances should anything herein be construed as fund marketing materials by prospective investors considering an investment into any 500 Global investment fund.
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Jordan Niezelski, Edelman