500 Durians, a Singaporean arm of U.S.-based venture capital firm 500 Startups, has closed its second vehicle at $26.77 million and amended its $50 million hard capitalization.
The vehicle has the mandate to invest in about 200 seed-stage companies in the region.
500 Durians plans to put in an additional $500,000 into companies that have shown exceptional progress, after receiving seed funding.
In September 2017, 500 Durians II raised an initial close at $8.08 million after receiving commitments from 4 investors.