500 Global reportedly does not plan to raise another fund focused exclusively on Southeast Asia.
New investments in the region may instead be made through its global funds, DealStreetAsia reported, citing people familiar with the matter.
Southeast Asian companies would consequently be considered alongside businesses from other markets.
The change contrasts with 500 Global’s expansion in 2023, when it secured US$100 million for its third regional early-stage fund and US$43 million for a growth vehicle.
Earlier that year, the firm appointed Saemin Ahn, Martin Cu and Shahril Ibrahim to develop its Southeast Asian growth investment operations.
Cu departed in August 2024, followed by Ahn the next month, as the regional team was gradually reduced.
500 Global is not expected to withdraw from Southeast Asia.
It may continue making selected investments, particularly in artificial intelligence (AI).
Its current regional vehicles are expected to use the capital still available while supporting companies already in their portfolios.
A reduced local team may remain to handle the funds and seek returns from earlier investments.
Formerly known as 500 Startups, the firm has backed more than 340 Southeast Asian companies, including Grab, Carousell and Carsome.
Featured image: Edited by Fintech News Singapore, based on image by Magnific
