Friday, April 6, 2012

500 Startups Targets $50M Investment Fund

Mountain View-based 500 Startups, the startup accelerator and seed investment fund, is gearing up to raised $50M in a new fund, 500 Startups II, the group disclosed in a regulatory filing Friday morning. According to the filing, no funds have yet been raised in the second fund. The accelerator's last fund was $15M. 500 Startups invests up to $250,000 in companies who go through its acceleration program, and mostly focuses on Internet and web startup businesses.