Silicon Valley’s 500 Global (formerly 500 Startups) has officially announced the expansion of its leadership team in Southeast Asia, including the appointment of Saemin Ahn as a partner for growth-stage equity investments in the region.
To lead growth initiatives across the region, 500 Global also appointed Shahril Ibrahim and Martin Cu as partners in Southeast Asia.
Ahn’s appointment was first reported by DealStreetAsia early this month.
Ahn, a long-time venture capitalist in Southeast Asia, joined 500 Global in January this year. He spent close to 10 years with Rakuten Ventures, building its first office in the region back in 2013.
At Rakuten, Ahn led investments in more than 25 technology companies, including GoTo Group, Carousell, Epic, and Coda Payments. He also held management roles at Google in Korea and Singapore.
Ahn will continue to be based out of Singapore in his new role, where he will oversee growth-stage investments for 500 Global, headquartered in San Francisco, US.
Shahril Ibrahim, on the other hand, was previously associated with the Malaysian sovereign wealth fund Khazanah. As the director of investments and head at Khazanah Americas, he established the SWF’s presence in the US.
He has also served as a board member at General Fusion and an advisory committee member of growth equity at venture capital firm March Capital.
Martin Cu, who was previously the Philippines country head of SE Asian logistics tech major Ninja Van, is another addition to 500 Global’s leadership team in the region.
500 Global managing partner Vishal Harnal said the three new partners will add “significant investment and operation expertise” to support entrepreneurs across Southeast Asia.
“We will continue to add top talent and winning skill sets to our team in this strategically important region and build on our track record of success,” Harnal added.
500 Southeast Asia, the firm’s Southeast Asian fund, makes seed-stage investments across the region.
500 Global conducted a major rebranding exercise in 2021, closing its largest fund at the time at $140 million. The move was meant to reflect a shift in its investment strategy, allowing 500 Global to extend its investments into the later stages of a company’s growth.
It invested in over 2,600 startups globally and oversees more than $2.7 billion in assets under management, according to its website. At least 49 of its portfolio companies are tech unicorns valued at $1 billion and above.
500 Global’s portfolio includes well-known unicorns such as Australian graphic design firm Canva, ride-hailing giant Grab, and Indonesian e-commerce firm Bukalapak.