1. Startups

500 Southeast Asia Will Still Pay More Attention to Startups in Indonesia

Change the name from "500 Durians", confirming the maturity of the startup ecosystem in the region

After 7 years known as "500 Durians". 500 Startups are officially doing rebranding their managed fund for startups in Southeast Asia to "500 Southeast Asia". This strategic step was deliberately taken after seeing the maturity of the startup ecosystem in the region.

A total of 250 early stage investments have been awarded through 500 Durians. Some of them even have a valuation of over $ 1 billion and have announced plans for an IPO. Among them are Bukalapak (already IPO), Grab, Carsome, Kredivo, Carousell Group, and Prenetics.

 

There are also other startups that are currently valued at over $100 million and growing rapidly. Among them are Bibit, Gilmour Space Technologies, RedDoorz, BukuKas, Alodokter, Aerodyne, HappyFresh, mClinica, Vokal, eFishery, and others. Collectively, the founders on the network have raised more than $20 billion.

“The startup and venture capital ecosystem in Southeast Asia has clearly come a long way since we started 500 Durians. Rebranding is an acknowledgment of the region's growing maturity and our continued commitment to continuing to invest and support entrepreneur here for the long term," 500 Southeast Asia Managing Partner Vishal Harnal told DailySocial.

Asked what 500 Southeast Asia plans for the Indonesian market in the future, Vishal said that Indonesia remains the main focus for 500 Southeast Asia.

"We have a significant amount of investment in Indonesia and will continue to invest in and support Indonesia's founders. One of our initial investments, Bukalapak, recently had an IPO on the Indonesia Stock Exchange. We believe that this is just the beginning for entrepreneurs in Indonesia," said Vishal.

Fund 500 Durians the first time launched in 2013 with availability reaching $10 million which later increased to over $20 million.

Investment hypothesis

Currently, there are many categories of startups that are experiencing positive growth. Driven by the pandemic that has accelerated digital even faster, 500 Southeast Asia sees that there are several business verticals that will continue to grow in the future.

In official site As mentioned, the digital economy relies heavily on financial infrastructure to connect all. 500 Southeast Asia believes in financial technology and embedded finance can usher in a new era of financial inclusion and payback. Ranging from reducing income volatility, access to credit, to essential insurance.

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While service E-commerce in the last decade has developed into "all-commerce", consumers demand to buy anything, anywhere (good online or offline), and has sent forward pintu them whenever they choose.

Associated with healthcare, 500 Southeast Asia sees, this sector is often neglected and underinvested. The pandemic has proven the importance of taking care of yourself. In this case for 500 Southeast Asia, healthcare not only for the body, but also for the mind and soul.

"We take a thesis-based and thematic approach to investment. As the ecosystem matures, so do the investment opportunities and the future. Currently, the broad theme we are focusing on is fintech for all and embedded finance, healthcare (with a focus on self-care), sustainable cities, rural digitization, ecosystem all-commerce, as well as human and machine productivity," concluded Vishal.

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