500 Startups has appointed Khailee Ng to oversee its new US$10 million micro fund for Southeast Asia.
Following our previous conversation with 500 Startups’ Dave McClure, the venture fund has just announced that they are dedicating a US$10 million micro fund to invest in Southeast Asia, as well as the promotion of its Entrepreneur-in-Residence Khailee Ng as its newest venture partner.
According to TechCrunch, the US$10 million micro fund was filed with the SEC under the name “500 Durians”. The hiring of venture partner in Southeast Asia follows the appointment of its China based venture partner Rui Ma earlier this year. Other than that, Pankaj Jain also recently joined as a venture partner to oversee investments in India.
Khailee co-founded one of Malaysia’s largest group-buying site GroupsMore.com, which was acquired by Groupon. His next venture, a social news company SAYS.com, also recently underwent a merger with Catcha Media Berhad which was valued at an estimated US$20 million.
Khailee and the whole 500 Startups crew are currently on its Southeast Asia Geeks on a Plane trip, an invite-only tour for startups, investors, and executives to learn about burgeoning technology markets worldwide. For its Singapore leg, they will be stopping by at Echelon, Asia’s largest technology conference.