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VC firm 500 Global launches Saudi-based fund
Venture capital firm 500 Global has announced the launch of 500 MENA, a fund dedicated to investing in technology startups across the Middle East and North Africa.
The fund, based in Riyadh, is supported by Saudi Arabia’s Public Investment Fund and Saudi Venture Capital, according to a statement.
500 Global manages US$2.3 billion in assets and has been active in the region since 2012.
The new fund plans to invest up to US$10 million per deal, focusing on sectors such as software-as-a-service, fintech, and AI in Saudi Arabia and the UAE.
Recent 500 Global developments
| Timeline |
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27-Mar-2024 👶 500 Global injects $4.2m for Malaysian babycare firm’s global expansion
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06-Sep-2023 🚀 500 Global closes two SEA funds at $143m
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02-Aug-2023 🔒 500 Global backs pre-seed round of crypto security startup Terminal 3
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10-Mar-2023 💰 500 Global-backed Monnai raises $6.5m, tapping into SEA for growth
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01-Mar-2023 📈 500 Global accelerates hiring in Southeast Asia
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