500 Global, a leading venture capital firm, has announced the launch of 500 MENA, L.P., a fund dedicated to supporting early-growth stage startups across the MENA region. The fund will focus on both startups from within its current portfolio and new ventures, offering up to $10 million per check for Series A and later-stage funding.
The fund will be led by Amjad Ahmad, supported on the investment committee by Courtney Powell, and backed by major players such as Jada Fund of Funds, Saudi Venture Capital Company (SVC), and Sanabil Investments. With this initiative, 500 Global aims to further strengthen MENA’s tech ecosystem by nurturing innovation and driving economic growth.
Global Startup Investments on the Rise
In Egypt and the U.S., Hamilton Treasury closed a $1.7 million pre-seed round, led by DisrupTech Ventures. Founded in 2024 by Mohamed Elkasstawi and Ehab Zaghloul, Hamilton specializes in tokenizing real-world assets (RWAs) on the Bitcoin network, bridging traditional finance with Bitcoin innovation.
Meanwhile, Abu Dhabi-based Further Ventures has invested $5 million in GRVT, the world’s first regulated decentralized exchange (DEX). The funding will fuel GRVT’s expansion across the Middle East, product development, and regulatory licensing.
Additionally, venture syndicate Qora71, launched in partnership with Hub71, joined an $11.5 million Series A investment in Basetwo AI. Basetwo’s AI platform optimizes pharmaceutical and chemical manufacturing, demonstrating Hub71’s focus on deep tech solutions.
San Francisco-based Instabase, specializing in AI for unstructured data, secured $100 million in a Series D round led by Qatar Investment Authority, further underscoring the region’s growing interest in AI innovations.
Updates on MENA’s Investment Landscape
Oraseya Capital was the UAE’s most active investor in 2024, completing 24 deals, including 16 through its Sandbox program. The firm’s portfolio shows significant interest in AI (21%), along with proptech, fintech, and cleantech investments.
Key Capital’s research revealed that nearly half of the $1.4 billion raised in MENA’s 14 largest funding rounds came from secondary transactions, allowing existing investors liquidity at discounts of 20%-40%.
Gaming Accelerator Launches
Merak Capital’s $80 million gaming fund has introduced Exel by Merak, a gaming accelerator program. Applications are now open for its first cohort, featuring a 2-week virtual boot camp, a 16-week acceleration phase, and a Demo Day to showcase innovations in the gaming industry.
About 500 Global
500 Global is a venture capital firm with over $2.7 billion in Assets Under Management (AUM). The firm has backed more than 5,000 founders representing 2,600 companies across 80 countries, including 51 unicorns and 140 companies valued at over $100 million.
With a global team of 140+ members spread across 15 countries, 500 Global brings unparalleled experience as entrepreneurs, investors, and operators from some of the world’s leading tech companies. By focusing on markets where technology, innovation, and capital can unlock value, 500 Global remains a key driver of economic growth and innovation worldwide.
