500 Startups launches $10M '500 Durians' fund for Southeast Asia

500 Startups launches $10M '500 Durians' fund for Southeast Asia

Summary: The incubator has devoted a microfund devoted to Southeast Asia and has hired Malaysian entrepreneur Khailee Ng as its newest venture partner.

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TOPICS: Start-Ups, Asean
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Prominent angel investor Dave McClure's incubator 500 Startups has set up a US$10 million fund dedicated to the Southeast Asia region.

khailee ng
Khailee Ng, 500 Startup's latest venture partner. (credit: khailee.com)

The fund was filed under the name "500 Durians" with the U.S. Securities and Exchange Commission (SEC), according to a report on Wednesday by Techcrunch. This follows other region-specific funds such as "500 Luchadores" for Mexico or "500 StartupWallah" for India.

To oversee investments in Southeast Asia, 500 Startups has hired Malaysia-based entrepreneur Khailee Ng as venture partner, added Techcrunch. It recently added entrepreneur Pankaj Jain as its India venture partner.

Ng had co-founded group buying site GroupsMore which was later acquired by Groupon. He is also co-founder of Southeast Asian social news company SAYS.com, which recently merged with Catcha Media.

The news comes ahead of one of 500 Startup's flagship events, Geeks on A Plane, making its way to Southeast Asia in the first half of June following its India tour.

Topics: Start-Ups, Asean

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Loves caption contests, leisurely strolls along supermarket aisles and watching How It's Made. Ryan has covered finance, politics, tech and sports for TV, radio and print. He is also co-author of best seller "Profit from the Panic". Ryan is an editor at ZDNet's Asia/Singapore office.

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