Just days after the third fund of 500 Startups was officially closed with $85 million, the five-year-old Mountain View-based firm has kicked things into high(er) gear, officially setting out to raise its fourth fund with a target of $200 million. In what’s perhaps a more meaningful shift, the outfit is preparing to raise a growth fund for the first time, too.
It’s a lot for 500 Startups — already a hyper-global investing juggernaut — to take on right now. In addition to the three “main” funds that 500 Startups has now raised – predecessors to the firm’s newest $85 million fund include a $29 million debut fund and a second fund that closed with $44 million — 500 Startups also has a $3 million fund focused on Latin America; a $10 million fund focused on Southeast Asia; a Thailand-focused fund that’s still fundraising and has targeted $10 million; a Korea fund that has similarly targeted $10 million; and, newly, a Japan-focused fund that’s looking to raise $30 million. Oh, and lest we forget, it’s also raising a $10 million fund that it’s calling its Mobile Collective vehicle.
Of course, firm cofounder Dave McClure has never been one to shy from a challenge. Indeed, he called us from a working vacation in Tokyo over the weekend to share more.
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