Raising new $50m fund

According to a SEC regulator filing 500 Startups is raising a new $50 million fund. The group’s first fund was $15 million and included 257 companies, a handful of which were later acquired by major tech companies. McClure said startups in international markets could account for 25% of its investments.

:McCLURE: I think the mentality of some Silicon Valley venture firms is to expect everything to come to them. We actually don’t. We get off our asses and go across the country and around the world.

The group also recently promoted Paul Singh and Christen O’Brien to partners.