As the current crop of tech unicorns — or start-ups 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."