US-based venture capital firm 500 Startups has rebranded its Southeast Asia fund 500 Durians to 500 Southeast Asia.

500 Southeast Asia will continue its primary focus on Indonesia, Malaysia, and Singapore, and may also invest in the broader Southeast Asia region, the firm said in a statement on Thursday.

Its current investment themes include FinTech, healthcare, the creator economy, the ‘All-Commerce’ ecosystem, human and machine productivity, rural digitization, and sustainable cities.

With the accelerating growth in the ecosystem, 500 Southeast Asia is also increasing its commitment to founders.

It remains dedicated to seed-stage investing, cutting checks of up to $500,000, but is now open to larger follow-on checks of up to $5 million, as well as potential investments through special-purpose vehicles, such the $21.2 million vehicle it previously executed for Carousell.

“We began our investing practice here seven years ago with the audacious belief that Southeast Asia would birth some of the largest and most innovative startups. At the time, we chose the Durians name, because our funds had a distinctly local flavor,” said Vishal Harnal, Managing Partner at 500 Startups Southeast Asia. “Now we have multiple companies individually valued at more than $1 billion that have announced plans for listing on global stock exchanges.”

500 Southeast Asia said it is nurturing its ‘next generation’ of portfolio companies. Collectively, it has made investments in approximately 250 companies, which have gone on to raise a total of $20 billion.

500 Startups’ rebranding move comes at a time as Southeast Asia is earning global attention for its rising share of the world’s unicorns. The region is also seen as one of the fastest-growing internet economies in the world.

The firm also said half of those $1 billion+ companies announcing plans to go public in 2021 and 2022 are 500 Southeast Asia portfolio companies including Grab, Bukalapak, Carsome, Prenetics, FinAccel, and Carousell from the firm’s first generation of investments.

According to reports, Grab could be shaping up to be the world’s biggest SPAC, and Bukalapak has become the largest IPO in Indonesia’s history.

“The relationships we have built with the broader ecosystem is the foundation for 500 Southeast Asia’s next phase of growth. There is a growing realization of societal interconnectedness and responsibility. We want our entrepreneurs to create returns on investment that drive returns to society. We’re in this together,” said 500 Startups Managing Partner Khailee Ng.

Headquartered in the US, 500 Startups said it is one of the most active global venture capital firms. Since its inception in 2010, 500 Startups has invested in over 2,500 companies across 77 countries. Its 140-plus team members are located in more than 15 countries to support its global portfolio. Notable investments include Credit Karma, Canva, Talkdesk, Intercom, GitLab, Grab and Bukalapak.

As of March 31, 500 Startups has run more than 50 growth and accelerator programs for over 1,500 startups worldwide.

500 Startups launches its dedicated venture capital fund in SE Asia in February 2014.