500 Global

Last updated
500 Global
Formerly500 Global
Company typeVenture capital firm
Founded2010;14 years ago (2010)
Founders
Headquarters
San Francisco, California
Number of locations
Global
Key people
  • Christine Tsai (CEO)
  • Courtney Powell (COO)
Website 500.co

500 Global (previously 500 Startups) is an early-stage venture fund and seed accelerator founded in 2010 by Dave McClure and Christine Tsai. [1] [2] The fund admitted a first "class" of twelve startups to its incubator office in Mountain View, California in February 2011. [3] They expanded to a second class of 21 in June 2011 and a third class of 34 in October 2011. [4] [5] 500 Global has $2.3 billion in assets under management (AUM) as of March 2024 [6] .

Notable companies 500 Global invested in include Eat App, [7] IDreamBooks, Little Eye Labs, myGengo, Cypheme, Cucumbertown, [8] Visual.ly, Canva, [9] Convoz, [10] Udemy, [11] RidePal [12] [13] and Aircall. [14]

History

In 2012, 500 Global acquired Mexican.VC, an accelerator in Mexico City, expects to substantially ramp up its investment in Mexico. Through its investment in Alta Ventures, 500 Global planned to have better access to deal flow in this region. [15] 500 Global LATAM is directed by Santiago Zavala and has startups like Platzi in its portfolio.

As of February 2021, 500 Global had invested in over 2,400 companies [16] including Eat App, [17] IDreamBooks, Little Eye Labs, myGengo, Cypheme, Cucumbertown, [8] Visual.ly, Canva, [18] Convoz, [19] Udemy, [20] RidePal [21] [13] and Aircall. [22] As of August 2015, more than 20% of the companies had participated in other incubators, 20–30% were based outside the United States, and over 60 had been acquired. [23]

As of 2015, some of the firm's active companies were Credit Karma, [13] Twilio, [13] GrabTaxi, [13] and Talkdesk.[ citation needed ] The exits include $403M acquisition of MakerBot by Stratasys, [24] $350M acquisition of Wildfire by Google, [25] $200M acquisition of Viki by Rakuten, [26] and $117M acquisition of Simple by BBVA. [27]

500 Global has investment partners and advisors from all over the world, e.g. Jassim Alseddiqi (United Arab Emirates), [28] Enis Hulli (Turkey), [29] Binh Tran (Vietnam), [30] and Tilo Bonow (Germany).[ citation needed ] A famous partner, Monique Woodard from Black Founders, left the early-stage venture fund in 2018. [31] 500 Global has locations in San Francisco, Mexico City, Miami, Dubai, Bahrain, Istanbul, Seoul, Kuala Lumpur, Singapore, Bangkok and Ho Chi Minh City. [32] In 2015, they announced they would be starting a three-month growth program in London, UK [33] as well as a pre-accelerator in Oslo, Norway. [34] Full global programs have expanded to Japan, Taiwan, Singapore, Cambodia, Georgia, Israel, Saudi Arabia, and Canada. [35]

In July 2017, co-founder Dave McClure resigned as general partner of all funds and entities managed by 500 Startups amid allegations of sexual harassment. [36] [37]

In March 2018, 500 Startups announced that it chose Downtown Miami as its first East Coast U.S. outpost. [38]

In July 2019, Courtney Powell was named Chief Operating Officer of the firm. [39]

In November 2020, 500 Startups formed a two-year partnership with Khmer Enterprise, a unit under the Cambodian Ministry of Economy and Finance. Through the Angkor 500 initiative, the firms will bring together founders throughout Cambodia to form teams and technology companies. [40]

In September 2021, 500 Startups announced their rebranding to 500 Global and the closing of a $140M global flagship fund – the firm’s largest fund to date–bringing assets under management to $1.8B. The firm has stated it is expanding its investment strategy beyond the accelerator and seed stage. [41]

In October 2021, 500 Global had its first fully virtual accelerator class. [42] In early 2023, the firm announced that it has launched an accelerator program in Tbilisi, Georgia as a part of its expansion in Eastern Europe. [43]

Related Research Articles

Benchmark is a venture capital firm founded in 1995 by Bob Kagle, Bruce Dunlevie, Andy Rachleff, Kevin Harvey, and Val Vaden.

<span class="mw-page-title-main">Y Combinator</span> American startup accelerator

Y Combinator, LLC (YC) is an American technology startup accelerator and venture capital firm launched in March 2005 which has been used to launch more than 4,000 companies. The accelerator program started in Boston and Mountain View, expanded to San Francisco in 2019, and was entirely online during the COVID-19 pandemic. Companies started via Y Combinator include Airbnb, Coinbase, Cruise, DoorDash, Dropbox, Instacart, Reddit, Stripe, Lezzoo, and Twitch.

Accel, formerly known as Accel Partners, is an American venture capital firm. Accel works with startups in seed, early and growth-stage investments. The company has offices in Palo Alto, California and San Francisco, California, with additional operating funds in London, India and China.

<span class="mw-page-title-main">Techstars</span> U.S. startup accelerator

Techstars is a global startup accelerator and venture capital firm founded in 2006 and headquartered in New York City. The accelerator provides capital, mentorship, and other support for early-stage entrepreneurs.

Redpoint Ventures is an American venture capital firm focused on investments in seed, early and growth-stage companies.

GGV Capital was an American venture capital firm. The firm was established in 2000 and was headquartered in Menlo Park, California. Formerly known as Granite Global Ventures, the firm had become one of the most active American investors in the Chinese artificial intelligence industry.

Greycroft LP is an American venture capital firm. It manages over $2 billion in capital with investments in companies such as Bird, Bumble, HuffPost, Goop, Scopely, The RealReal, and Venmo. Greycroft was founded in 2006 by Alan Patricof, Dana Settle, and Ian Sigalow. The firm is headquartered in New York City, Los Angeles, and the San Francisco Bay Area.

<span class="mw-page-title-main">Dave McClure</span> Entrepreneur and angel investor

David "Dave" McClure is an entrepreneur and angel investor based in the San Francisco Bay Area, who founded the business accelerator 500 Startups and served as its CEO until his resignation in 2017. He founded Practical Venture Capital soon after, a new venture capital fund that would continue to work with companies he previously funded through 500 Startups.

Seedcamp is a European seed-stage venture capital fund, headquartered in London, launched in May 2007 by a group of 30 European investors. The fund's Managing Partners are Reshma Sohoni and Carlos Espinal.

Balderton Capital is a venture capital firm based in London, UK, that invests in early-stage, technology and internet startup companies in Europe. It is considered to be among the four-biggest venture capital firms in the English capital.

<span class="mw-page-title-main">Adeo Ressi</span> American entrepreneur and investor

Adeo Ressi is the founder and CEO of Decile Group and Executive Chairman of Founder Institute. Decile Group is a full-stack venture capital platform for emerging managers worldwide and helped launch nearly 50% of all VC firms in 2023 with the VC Lab accelerator. Founder Institute, a pre-seed accelerator, operates chapters in over 250 cities and supports more than 7,000 portfolio companies. Ressi’s previous startups, including Methodfive, Game Trust, and Total New York, resulted in nearly $2 billion in exits by the age of 30. He has also launched 14 venture capital funds, served on the board of the X Prize Foundation, and created TheFunded.

Runa Capital is an international venture capital firm headquartered in Luxembourg that invests in deep tech, enterprise software, and fintech infractructure early-stage startups. From 2010 through 2022, Runa Capital raised around $500 million in 4 funds and invested in over 100 companies in more than 14 countries of Europe and North America, including Nginx, MariaDB, Zopa, Brainly, drchrono, Smava, and Mambu.

Neighborly was a San Francisco–based financial technology startup focused on financing and deploying fiber-optic broadband infrastructure in communities around the U.S. The company aimed to deliver critical fiber broadband infrastructure to communities, and opportunities to investors interested in closing the digital divide.

<span class="mw-page-title-main">Theresia Gouw</span>

Theresia Gouw is an entrepreneur and venture capital investor in the technology sector. She worked at Bain & Company, Release Software and Accel Partners before co-founding Aspect Ventures, a female-led venture capital firm, in 2014. Gouw was named one of the 40 most influential minds in tech by Time Magazine. and has been recognized seven times on the Forbes Midas List as one of the "world's smartest tech investors". According to Forbes, Gouw is the richest female venture capitalist, with a net worth of approximately $500 million, primarily due to her involvement with Accel (company)'s early investment in Facebook.

<span class="mw-page-title-main">Cheryl Sew Hoy</span> Entrepreneur, speaker and angel investor

Cheryl Sew Hoy is an entrepreneur, speaker and angel investor, best known for being the founding CEO of the Malaysian Global Innovation and Creativity Centre (MaGIC), a government-funded agency to support entrepreneurship in Malaysia and ASEAN.

<span class="mw-page-title-main">Jens Hilgers</span> German serial entrepreneur (born 1975)

Jens Hilgers is a German entrepreneur who works in the esports industry. He was the founding CEO of the esports production company Electronic Sports League (ESL), and is a co-founder and the CEO of Bayes, an esports data company based in Berlin. In 2014, he co-founded G2 Esports together with Carlos "Ocelot" Rodriguez, and currently serves as its chairman. He is also the founding general partner of BITKRAFT Ventures, a global early and mid-stage investment platform for gaming, esports, and a new technology named Web3. He has been credited as an early pioneer of the esports industry.

<span class="mw-page-title-main">Quest Ventures</span>

Quest Ventures is a venture capital firm founded in 2011 by James Tan and Wang Yunming in Beijing, China. The firm mainly focuses on digital commerce investments and has an office in Singapore. The firm deploys funds across Asia in countries such as Singapore, Malaysia, Vietnam, and Indonesia. Quest Ventures is also the largest anchor tenant at JTC Launchpad.

Upfront Ventures, formerly known as GRP Partners, is a Santa Monica-based venture capital firm that invests in early-stage technology companies. It is one of the largest venture capital firms in Los Angeles, with $2 billion in total raised funds. Since its founding in 1996, Upfront Ventures has invested in more than 200 companies, with notable exits including Ulta, Overture, PayPal Credit, TrueCar, Disney Digital Network, Kyriba, and Ring.

YL Ventures is an American-Israeli venture capital firm that specializes in seed stage cybersecurity investments.

Molten Ventures, formerly Draper Esprit, is a British venture capital firm, investing in high growth technology companies with global ambitions. The firm has offices in London, Cambridge and Dublin. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

References

  1. ↑ Matt Rosoff (February 10, 2011). "Super Angel Dave McClure Launches Incubator Program, Dismisses "Bubble" Talk". Business Insider.
  2. ↑ Clifford, Catherine (17 April 2020). "These are the new hot spots of innovation in the time of coronavirus". CNBC. Retrieved 30 September 2020.
  3. ↑ Tsotsis, Alexia (June 9, 2011). "500 Startups Unveils 2nd Batch: 21 Startups". TechCrunch.
  4. ↑ Ha, Anthony (June 9, 2011). "500 Startups accelerates 21 new companies". Venture Beat.
  5. ↑ Lawler, Ryan (January 25, 2012). "The best and brightest from 500 Startups' third demo day". GigaOM.
  6. ↑ "Press - 500 Global | 500 Global". 500.co. Retrieved 2024-11-23.
  7. ↑ "Meet the 9 Startups from first batch of QSTP & 500 Startups' Doha Dojo". June 2, 2017.
  8. 1 2 B Pradeep Nair. "Recipe to bring cooks and foodies together". The Times of India . Archived from the original on November 1, 2013.
  9. ↑ "Canva Investors". Archived from the original on 2013-07-25. Retrieved 2015-08-16.
  10. ↑ "Canva Raises $3 million".
  11. ↑ Toto, Serkan, "MyGengo Is Mechanical Turk For Translations". The Washington Post. 2010-01-11
  12. ↑ Perez, Sarah. RidePal, The “Google Bus For The Rest Of Us,” Scores $500K From 500 Startups & Others, TechCrunch. September 10th, 2012
  13. 1 2 3 4 5 "Startups". 500 Startups. Retrieved 2015-11-23.
  14. ↑ "Aircall, seule startup française représentée à l'accélérateur 500 Startups". Maddyness – Le Magazine sur l’actualité des Startups Françaises (in French). 2015-09-27. Retrieved 2021-02-26.
  15. ↑ Source:Alta Ventures Mexico Raises $70M First Fund, Draws Support from 500 Startups
  16. ↑ "500 Startups – Home". 500 Startups. Retrieved 2021-02-10.
  17. ↑ "Meet the 9 Startups from first batch of QSTP & 500 Startups' Doha Dojo". June 2, 2017.
  18. ↑ "Canva Investors". Archived from the original on 2013-07-25. Retrieved 2015-08-16.
  19. ↑ "Canva Raises $3 million".
  20. ↑ Toto, Serkan, "MyGengo Is Mechanical Turk For Translations". The Washington Post. 2010-01-11
  21. ↑ Perez, Sarah. RidePal, The “Google Bus For The Rest Of Us,” Scores $500K From 500 Startups & Others, TechCrunch. September 10th, 2012
  22. ↑ "Aircall, seule startup française représentée à l'accélérateur 500 Startups". Maddyness – Le Magazine sur l’actualité des Startups Françaises (in French). 2015-09-27. Retrieved 2021-02-26.
  23. ↑ Empson, Rip (April 6, 2012). "500 Startups Raising New $50M Fund, Names 4 New Partners, With 250+ Investments To Date". TechCrunch.
  24. ↑ Etherington, Darrell (19 June 2013). "Stratasys Acquiring MakerBot In $403M Deal, Combined Company Will Likely Dominate 3D Printing Industry". TechCrunch. Retrieved 2015-11-23.
  25. ↑ Constine, Josh (31 July 2012). "Google Acquires Wildfire, Will Now Sell Facebook And Twitter Marketing Services [Update: $350M Price]". TechCrunch. Retrieved 2015-11-23.
  26. ↑ "Exclusive: Japan's Rakuten Acquires Viki Video Site for $200 Million". AllThingsD. Retrieved 2015-11-23.
  27. ↑ Etherington, Darrell (20 February 2014). "Banking Startup Simple Acquired For $117M, Will Continue To Operate Separately". TechCrunch. Retrieved 2015-11-23.
  28. ↑ "500 Startups Appoints SHUAA Capital as an Advisor to its 500 Falcons I Fund". www.businesswire.com. 2020-10-18. Retrieved 2021-02-10.
  29. ↑ "Interview with Enis Hulli, GP, 500 Startups Istanbul". Vasco Patricio Executive Coaching. 2020-02-07. Retrieved 2021-02-10.
  30. ↑ "Binh Tran". Chinaccelerator. Retrieved 2021-02-10.
  31. ↑ by (2018-01-18). "Monique Woodard Is Leaving 500 Startups, Destination: Unknown". Moguldom. Retrieved 2021-02-10.
  32. ↑ "500 startups". 500 startups. Retrieved 16 Aug 2015.
  33. ↑ O'Hear, Steve (24 June 2015). "500 Startups Arrives In London With "Distro Dojo", A Three-Month Growth Program For Post-Seed Startups". Techcrunch. Retrieved 16 Aug 2015.
  34. ↑ Murray, Neil (10 August 2015). "Doubling down on Europe: after 'Distro Dojo' in London, 500 Startups launches a 'pre-accelerator' in Oslo". Tech.eu. Retrieved 16 Aug 2015.
  35. ↑ "Accelerators". 500 Global. Retrieved 2023-01-08.
  36. ↑ Oreskovic, Alexei; Carson, Biz. "The tech investor who apologized for being a 'creep' resigns from 500 Startups after being accused of sexual harassment". Business Insider. Retrieved 2020-05-27.
  37. ↑ Primack, Dan. "Exclusive: Dave McClure resigns as general partner of 500 Startups funds". Axios. Retrieved 2020-05-27.
  38. ↑ "Downtown Miami's newest resident: A $400 million dollar Silicon Valley fund". miamiherald. Retrieved 2018-06-02.
  39. ↑ Geron, Tomio (2019-07-29). "500 Startups Names Courtney Powell to Lead Operations". Wall Street Journal. ISSN   0099-9660 . Retrieved 2022-08-10.
  40. ↑ "500 Startups partners with government unit to support tech startups in Cambodia". www.techinasia.com. Archived from the original on 2020-11-23. Retrieved 2021-07-28.
  41. ↑ "500 Announces $140M Global Flagship Fund, Rebranding to 500 Global". 500 Global. Retrieved 2021-09-15.
  42. ↑ "Meet the Startups in 500's First Fully Virtual Accelerator".
  43. ↑ Butcher, Mike (2023-04-14). "500 Global spreads its wings across the Caucasus and Eastern Europe, via Tbilisi". TechCrunch. Retrieved 2023-04-27.

[1]

  1. ↑ malik, talha (18 August 2023). "500 Startups: Paving the Way for Innovative Ventures - Startupblogerve.com". Startupblogerve. talhamalik. Retrieved 18 August 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.