October 3, 2013
Mountain View-based 500 Startups has $44.1 million dollars to invest in Silicon Valley, enough to fund 200 more startups. But, the fund, which closed this week, fell $6 million short of its goal, according to a report by TechCrunch.
For a year and a half, the incubator, started in 2010 by Dave McClure and Christine Tsai, had been trying to make the $50 million mark for its second venture capital fund, but failed to do so.
Still, the new fund exceeds 500 Startup's original $39.4 million and will allow it to incubate an additional 200 startups, according to the report.
