Launches a new venture capital fund by 500 Global, focusing on supporting growth-stage businesses in the MENA region.
500 Global, a venture capital firm with a strong presence in the Middle East and North Africa (MENA) region, has announced the launch of a new fund, 500 MENA. This strategic expansion marks the firm's continued commitment to the MENA region.
The new fund is backed by prominent Saudi institutional investors, including Jada Fund of Funds, Saudi Venture Capital (SVC), and Sanabil Investments. Amjad Ahmad, the managing partner of 500 MENA, will lead the investment efforts. Ahmad brings over 20 years of emerging markets experience, having previously led venture and growth investments exceeding $1 billion in the region across technology, education, consumer products, and financial services sectors.
Ahmad expressed excitement about fueling the next wave of tech champions in the MENA region, driving innovation and economic growth as digital transformation accelerates across key economies. He will be joined on the investment committee by Courtney Powell, 500 Global's chief operating officer and managing partner.
The new fund aims to address the critical funding gap for MENA founders, particularly at the expansion stage. It will invest $10 million checks in growth-stage startups in sectors such as SaaS, AI, and fintech, across the region.
The investment strategy of 500 MENA focuses on creating sustainable ecosystems that fund people, scale local solutions, and build economic resilience. This aligns with 500 Global’s broader Sustainable Growth Strategy, which has been embedded in MENA for over a decade. The strategy emphasizes patient capital and long-term value creation by supporting localized infrastructure and addressing regional challenges, aiming to scale these solutions globally.
The fund targets startups that are growth-stage and scale-ready, fitting with regional trends where private equity and venture capital are shifting towards fewer but larger, conviction-driven deals with a focus on SMEs capable of absorbing larger capital inflows, especially in more mature markets like Saudi Arabia and the UAE, which dominate MENA investment activity. The investment approach also involves strategic partnerships with local accelerators and ecosystems such as Saudi's GAIA accelerator, enhancing the environmental framework for portfolio success.
500 Global has been active in the MENA region since 2012, having invested in over 270 companies, including Eyewa, Floward, Foodics, Gathern, Lean Technologies, Lendo, and Trukker. Ahmad sits on the board of different regional startups, including Eyewa, Homzmart, and The Luxury Closet.
The new fund follows the success of previous funds including 500 Falcons, Sanabil 500 MENA Accelerator Fund I, and Sanabil 500 MENA Accelerator Fund II. Through its education programs, 500 Global has trained more than 400 venture capitalists, accelerator managers, and angel investors focused on deploying capital in the region and beyond.
In summary, 500 MENA’s investment strategy is to deploy sustainable, patient capital toward growth-stage technology companies that address critical regional and global challenges through scalable and localized innovations, leveraging long-term partnerships and ecosystem building in the MENA region.
Technology-focused startups in the MENA region will receive funding from the newly launched 500 MENA fund, led by Amjad Ahmad. Ahmad aims to fuel the next wave of tech champions in the MENA region, investing $10 million checks in growth-stage startups in sectors such as SaaS, AI, and fintech.
