US-based VC firm, 500 Global has announced the launch of 500 MENA, a new fund dedicated to investing in high-growth technology startups across MENA region, both within and outside the current 500 Global portfolio.

This move allows 500 Global to support startups beyond the seed stage, with the aim of further catalysing the growth of the MENA region’s expanding tech ecosystem.

The Fund will primarily invest in startups that have achieved proven product-market fit and show significant growth potential, addressing the critical funding gap faced by MENA founders, particularly during the expansion stage.

500 Global seeks to actively support these companies through its extensive international network, enabling them to build and scale innovative solutions both regionally and globally.

Amjad Ahmad, Managing Partner of 500 Global MENA and Emerging Market Advisor, will lead the Fund. With over two decades of experience in emerging markets, Amjad has previously overseen venture and growth investments exceeding $1 billion in the MENA region, covering sectors from technology and education to consumer products and financial services.

He will be supported by Courtney Powell, Chief Operating Officer and Managing Partner at 500 Global, who has been based in Riyadh since 2021.

“Amjad is a seasoned investor with a proven track record of helping founders scale their startups. His leadership will be instrumental in driving the success of our Fund and portfolio companies,”

said Courtney Powell.

The Fund is backed by Saudi institutional investors, including Jada Fund of Funds, a Public Investment Fund (PIF) company, and Saudi Venture Capital (SVC). It is also supported by Sanabil Investments, alongside their ongoing strategic partnership with 500 Global.

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