500 Startups plan $10m Thai investment fund

A new $10 million micro-investment fund in Thailand is about to be launched by venture capitalist company 500 Startups.

The notorious US startup investor and accelerator, 500 Startups, is looking to further extend its reach in Asia by preparing to launch a new $10 million micro-fund for Thailand companies, which is reported to be called the 500 TukTuks fund, according to TechCrunch.

500 Startups is already a high profile investor in Thailand, having invested in over eight different companies, and back in August was the lead contributor to the seed funding for Anywhere to Go. Other high profile investments were in Builk, which was the first ever Thailand-based startup to participate in the accelerator.

Thailand next key market

However, it appears the world’s leading accelerator is looking to ramp up its efforts in Thailand by using half of the $10 million fund to invest in early-stage startups and the rest for later-stage and follow-up funding.

“We believe the Thai market is hot, and we’re seeing liquidity avenues open up for startups in the region. This makes for a valuable opportunity for early-stage investing”, 500 Startups said in its investor pitch, according to TechCrunch. 

According to the documents viewed by TechCrunch, 500 TukTuks will provide around $75,000 as an initial seed-stage investment round with other investors. Follow-on investments will start at $150,000 and have the potential to be larger for startups that show the potential to earn big.

500 Startups making big moves in Asia

In recent years, 500 Startups has been increasing looking to the east for potential avenues of investment. It has already invested in a number of Thai firms through its 500 Durians duna and elsewhere in Asia the accelerator is continuing to develop its 500 StartupWallah micro-fund in India.

Other funds of 500 startups include its accelerator in Mexico, 500 Luchadores, and also has a $10 million fund targeted at mobile startups, Mobile Collective.