US-based global venture capital firm 500 Startups has appointed Dubai’s Shuaa Capital as advisor to its Falcons 1 Fund in the Middle East and North Africa (MENA) region.
The Dubai-listed firm will focus its support on advising 500 Startups’ Falcons 1 portfolio companies in financing and exit strategies, as the company’s MENA fund nears the end of its deployment.
Shuaa will be represented by its chief executive officer, Jassim Alseddiqi.
The chief executive said they are proud to align themselves with “world-class” institutions such as 500 Startups.
“500 Startups is a powerhouse in MENA with a unique global platform that has contributed significantly to the startup ecosystem. Having built a deep network of investors and investments across [the region] with Shuaa, I look forward to guiding and collaborating with founders to take their businesses to the next level, whether through further development or exit strategies,” said Alseddiqi.
Courtney Powell, chief operating officer of 500 Startups, said Alseddiqi brings a wealth of experience as a “seasoned” asset manager and executive, and that his service and mentorship will be “invaluable” to their portfolio founders.
“We are thrilled to have Shuaa and Jassim with us, as we prepare for the next phase of 500 in MENA,” Powell said.
Founded in Silicon Valley, 500 Startups has invested in more than 2,300 companies through its five global funds and 15 thematic funds.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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