<article>Silicon Valley-based venture capital firm <a href="https://www.dealstreetasia.com/?s=500+Startups" target="_blank" rel="noopener noreferrer">500 Startups</a> has announced that its Middle East and North Africa (MENA) focused fund, <a href="https://www.dealstreetasia.com/?s=500+Falcons" target="_blank" rel="noopener noreferrer">500 Falcons</a>, has made a final close at $33 million.</article>

Silicon Valley-based venture capital firm <a href="https://www.dealstreetasia.com/?s=500+Startups" target="_blank" rel="noopener noreferrer">500 Startups</a> has announced that its Middle East and North Africa (MENA) focused fund, <a href="https://www.dealstreetasia.com/?s=500+Falcons" target="_blank" rel="noopener noreferrer">500 Falcons</a>, has made a final close at $33 million.
The final close comes nearly two years after the fund made its first close at $15 million and exceeds the firm&#8217;s initial target of $30 million. LPs in the fund include Qatar Science and Technology Park (QSTP) and the Oman Investment Fund.
500 Startups has been investing across the Middle East and North Africa region since 2011, and so far invested in 105 companies across 16 countries in the region.
500 Falcons is targeting to make between 100 to 150 investments using half of the fund’s capital and the rest will be used to make follow-on investments in the top 20 per cent of its portfolio companies.
&#8220;Witnessing firsthand how other emerging markets such as Southeast Asia, India and Latin America have grown and developed, we can trace the development of our market against those regions. Having access to a global pool of partners that are interested in the region from Korean, Chinese, European and Japanese investors helps our startups tap into deeper pools of capital,&#8221; Hasan Haider, venture partner for 500 Startups in the Middle East, wrote in a post.
500 Falcons runs a Series A-focused growth hacking programme with QSTP, called MENA Dojo. It also operates the Misk 500 MENA Accelerator that targets pre-seed stage startups in the region.
500 Startups has invested in a total of over 2,200 companies via four global funds and 14 thematic funds.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/500-melbourne-aborted-with-launchvic-exit-80280/">Australia’s LaunchVic terminates partnership with 500 Startups, local MD Rachel Neumann quits</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/500-startups-japan-fund-124206/">500 Startups Japan team launches new fund called Coral Capital</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/airasia-venture-fund-124214/">AirAsia launches $60m global venture fund, partners 500 Startups</a>

500 Falcons is targeting to make between 100 to 150 investments using half of the fund’s capital and will use the rest for follow-on investments.

500 Startups raises $33m for Middle East fund

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

500 Startups raises $33m for Middle East fund

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief