500 Startups Expands Executive Team, Appoints Tony Wang as Managing Partner

SAN FRANCISCO, Sept. 24, 2019 (GLOBE NEWSWIRE) -- Global venture capital firm, 500 Startups, today announced the appointment of Tony Wang as Managing Partner. Wang is an experienced technology executive with a track record in scaling early stage companies into massive global businesses. His work during the growth stages at Google, Twitter and most recently Color, provided Wang the opportunity to build and manage teams operating in over 30 countries around the world across various sectors such as consumer tech, digital media, mobile, and healthcare. The appointment comes as 500 Startups recognizes a sixteenth company in its portfolio valued at more than one billion dollars. Companies from the 500 Startups portfolio that have gone on to reach unicorn status include Credit Karma, SendGrid, TalkDesk, Twilio, GitLab, Canva, Intercom and more. In addition to focusing on investments, Wang will help lead 500 Startups' latest initiatives for global expansion, including work with the company's global funds strategy and investments.

Wang joins 500 Startups at a time where venture capital is looking towards increased global activity and investments. More and more venture capital dollars are being deployed outside the U.S. as the world continues to witness the rise of global entrepreneurialism. In fact, roughly half of 500 Startups' portfolio companies are international. Wang will be instrumental in helping 500 Startups further its commitment to venture capital in the global market as his expertise will be key for portfolio companies looking to unlock various stages of growth.

"The venture capital world is undergoing a dramatic shift towards globalization where 500 Startups has been the leader and investing for the past decade," Wang said. "There's no question there are talented founders around the world, as proven by the number of unicorn companies in the 500 family. I'm excited to join 500's mission to level the field of opportunity for these entrepreneurs. While there's much more to go, I've long admired 500's commitment to diversity in the founders it backs, the team behind the firm and the global operating model." 

"Our global mission has driven us to make bets on founders and ecosystems before they were obvious, and it has allowed 500 Startups to develop the foundation for global access. Tony will help us further execute on our vision," said Christine Tsai, CEO of 500 Startups. "His unique global experience as part of early executive management teams across the Americas, Asia Pacific, and EMEA markets will help us continue to discover and back the best founders around the world."

Wang has spent his career working with companies to scale from pre-product inception stages through to building global businesses and beyond. At Google, Wang served as Managing Counsel and part of the executive management team overseeing the Asia Pacific and Latin American regions. Wang later became the VP of Global Partnerships at Twitter where he helped develop Twitter's global revenue and partnerships when Twitter was less than 100 people all the way through IPO. Prior to joining 500, Wang was Chief Operating Officer at Color, the leader in digital health applying software and machine learning to deliver precision health to large populations. 

About 500 Startups
500 Startups is a VC firm on a mission to discover and back the world's most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. It is one of the most active venture capital firms in the world.

Since its inception in Silicon Valley, 500 Startups has invested in over 2,300 companies across more than 75 countries around the world. Its 100+ team members are located in 20 countries around the world.

Notable portfolio companies include: Twilio TWLO, Credit Karma, SendGrid (acquired by Twilio), Grab, GitLab, Bukalapak, Canva, Udemy, TalkDesk, Intercom, Ipsy, MakerBot (acquired by SSYS), Wildfire (acquired by Google), and Viki (acquired by Rakuten).

Beyond providing seed capital, 500 supports startups via their Seed Accelerator Programs that emphasize marketing, customer acquisition, sales, and fundraising. 500 Startups further fosters the development of innovation ecosystems by supporting startups and investors through educational programs, events, and partnerships with corporations and governments around the world.

Media Contact
Madeline Kalicka, Karbo Communications for 500 Startups
240-427-8961
500startups@karbocom.com

The title "Partner" is used in accordance with customary business practice in the venture capital industry and does not indicate a legal status as a "partner" in a partnership. Figures are based on internal estimates as at September 23, 2019 and have not been independently verified. Under no circumstances should any information or content in this press release, be considered as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups or any of its affiliates or representatives. Further, no content or information contained in this press release is or is intended as an offer to provide any investment advisory service or financial advice by 500 Startups. Under no circumstances should anything herein be construed as fund marketing materials by prospective investors considering an investment into any 500 Startups investment fund.