According to a filing with the US Securities and Exchange Commission (SEC), 500 Startups was seeking to raise USD100 million for its third fund. The investment firm led by Dave McClure had already raised a total of USD94 million in its two earlier funds. The amount that would be raised in the new fund would go towards supporting startups who are needing seed and follow-on investments, said 500 Startups in its latest SEC filing.
500 Startups' early investments in Viki, Wildfire, Makerbot had earned the investment firm major credits for being able to pick winners. Viki, Wildfire, Makerbot were acquired later on in at six-figure deals. 500 Startups's early-stage support in companies like 42 Floors, CreditKarma, SendGrid, TaskRabbit and Twilio saw the startups flourishing by raising Series B or later funding rounds.
In a discussion with McClure, the investment firm aims to place a minimal of 200 investments next year, and would increase its investments by 25% year-per-year.
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