500 startups has announced its new regional fund 500 Kulfi a $25 million fund which will focus on early stage startups in India, Sri Lanka and Bangladesh.
Though 500 startups will remain sector agnostic, it will take a larger interest in FinTech, EdTech, Health & Wellness, Data Analytics, Content and SaaS/SMB startups.
500 Kulfi will be led by Pankaj Jain. 500 Startups has invested in over 50 companies in India since 2011 including amazing startups like ZipDial, SourceEasy, Instamojo, CultureAlley, SilverPush, KartRocket, and Headout.
In 2015, 500 startups funded 20 startups in India.
500 Startups was founded by Dave McClure, who earlier worked with Facebook as its fund manager and was marketing head of PayPal.
500 startups has announced another $25 million fintech fund and will be led by Sheel Mohnot. This fund will run the group’s fintech accelerator.