The firm is now seeking $20m for the fund, and Genting and GS Home Shopping are reported to be among its limited partners.
Malaysia-based conglomerate Genting and South Korea-based e-commerce and TV shopping network operator GS Home Shopping will back US-based venture capital firm 500 Startups’ Southeast Asia Fund, according to Bloomberg.
500 Startups has doubled the fund’s target to $20m, according to an email seen by Bloomberg. Genting is committing $3m to the fund, two people familiar with the matter said, though details concerning GS Home Shopping’s involvement have not yet emerged.
The firm has not officially confirmed whether the corporate backers…
