As the current crop of tech unicorns — or startups valued at more than $1 billion — go public, venture fund 500 Startups is looking toward new frontiers for the next wave of innovation.
“I think it is a really exciting time being in Silicon Valley and at the same time for us, as an early stage investor, it’s great to see,” Edith Yeung, partner and head of China at 500 Startups, told CNBC’s “Squawk Box” on Tuesday.
“You literally have to wait at least 10 years to get to this point that you finally have … some sort of exit, but it’s really a sign for us that we need to get back to work and discover the next wave,” she said.
Yeung said her company, an early investor in Southeast Asian ride-hailing giant Grab, is looking at investments that “truly add value.”
“I love blockchain and AI ideas and (it’s) just so fun … to work on as a technology project, but at the same time I don’t want to invest in a company just because a founder know(s) how to speak geeks or blockchain,” Yeung said. “It really should be about companies that truly add value and you know, understand the pain point to do something good for the society and the world.”