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.

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


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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