Mubasher: World’s venture capital (VC) firm 500 Startups has closed a $140 million global flagship fund, marking the firm’s largest fund to date.
The transaction brought the value of the assets under management (AUM) to $1.8 billion, according to a press release on Thursday.
500 Startups announced its rebrand to 500 Global, while the 11-year-old firm has been expanding its investment strategy beyond the accelerator and seed stage.
The VC firm’s portfolio has yielded 33 companies valued at more than $1 billion and over 120 companies valued over $100 million, including Talkdesk, Canva, Bukalapak, Grab, Shippo, and more.
“500 Global has backed more than 6,000 entrepreneurs across 77 countries,” according to the press statement.
The company will also invest at the later stages of a company’s growth, while it has already begun to write larger investments into companies, leading or co-leading fundraising rounds, in addition to offering later stage co-investment opportunities to limited partners.