DUBAI: Abu Dhabi Financial Group has acquired a “strategic stake” in Silicon Valley-based venture fund and accelerator 500 Startups.
The UAE-based investor, which has more than $6 billion in assets under management, said the investment would help the fund expand into new markets and anchor future global funds.
The value of ADFG’s investment was not disclosed.
Saleh Al-Hashemi, CEO of ADFG’s technology arm Algorythma, will join 500 Startup’s board of officers.
“500 gains access to deals in global markets that many traditional VCs do not,” said ADFG’s CEO Jassim Alseddiqi. “This investment will complement ADFG’s existing technology initiatives.”
Beyond its technology investments, ADFG has also aquired an extensive real estate portfolio in the UAE, UK and Eastern Europe.
500 Startups has invested in more than 2,000 companies across more than 60 countries, including Asian ride-sharing app Grab, online education provider Udemy, Twilio and SendGrid, and has more than $400 million in committed capital.
The UAE-based investor, which has more than $6 billion in assets under management, said the investment would help the fund expand into new markets and anchor future global funds.
The value of ADFG’s investment was not disclosed.
Saleh Al-Hashemi, CEO of ADFG’s technology arm Algorythma, will join 500 Startup’s board of officers.
“500 gains access to deals in global markets that many traditional VCs do not,” said ADFG’s CEO Jassim Alseddiqi. “This investment will complement ADFG’s existing technology initiatives.”
Beyond its technology investments, ADFG has also aquired an extensive real estate portfolio in the UAE, UK and Eastern Europe.
500 Startups has invested in more than 2,000 companies across more than 60 countries, including Asian ride-sharing app Grab, online education provider Udemy, Twilio and SendGrid, and has more than $400 million in committed capital.
