It is expected to invest in approximately 100 startups. This follows the announcement of 500 Startups’ new MENA regional headquarters in Riyadh.
Bedy Yang, Managing Partner at 500 Startups and General Partner of the Sanabil 500 MENA Seed Accelerator Fund, said: “The region’s ecosystem has evolved significantly since 500 first started investing in the region nearly 10 years ago, and we will continue providing seed-stage founders with the best support possible.”
500 Startups has operated 50 accelerator programs in Silicon Valley and globally, and invested in over 2,500 companies, including more than 180 from within MENA. Based on internal valuations and information received, as of December 31 last, 500’s global investment portfolio now has more than 23 ‘unicorns’, or investments valued at over $1 billion.