500 Startups just announced that Abu Dhabi Financial Group (ADFG) made a significant investment in the firm.
Through this investment, ADFG will hold a strategic stake and will be injecting substantial capital to accelerate the growth of 500’s key initiatives, expand into new markets, and anchor future global funds.
Jassim Alseddiqi, CEO of ADFG, said: “For ADFG, this is a groundbreaking investment because 500’s global footprint and reach is incomparable. More than just a VC firm, 500 gains access to deals in global markets that many traditional VCs do not. This investment will complement ADFG’s existing technology initiatives. We are thrilled to be investing in 500 and look forward to supporting their continued growth and expansion.”
Ever since the take over of Founding Partner Christine Tsai as the CEO, she refocused the team and reaffirmed the firm’s vision and strategy. Tsai mentions that with ADFG’s investment and strategic she’s looking forward to further pursuing 500’s mission of discovering and backing the world’s most talented entrepreneurs, and help them create successful companies at scale, and build thriving global ecosystems.
Tsai said, “After accomplishing all that we have in just eight short years via organic growth, we are excited to take 500 to the next level. Over the last few years, we have gotten to know ADFG through their involvement as a limited partner in 500’s previous funds and found that we have a strong alignment on vision and complementary strengths. I am proud to be working even more closely with ADFG to help accelerate 500’s future growth, invest in more promising companies, and further achieve our mission as one of the most active VC firms in the world.”