Palo Alto, Calif.-based venture firm 500 Global (formerly 500 Startups) is co-investing with sovereign wealth funds, development financial institutions, governments, foundations and other private investors out of its Abu Dhabi office. The location is strategic as 500 Global hopes to draw institutional capital from the Persian Gulf for sustainable investments in Africa, Latin America and Southeast Asia.
The firm will focus on climate adaptation, food systems and agri-tech, digital infrastructure and AI, financial inclusion, gender equity, education, biodiversity and nature tech and the energy transition.
“These are the challenges that will define the next decade, and the greatest opportunities to create more resilient and equitable futures for people and communities everywhere,” wrote Alaa Murabit, the former Gates Foundation executive brought on by 500 Global to lead the strategy.
Frontier markets
500 Global has invested in more than 2,600 companies in 80 countries since 2010. Through 500 MENA, its Middle East and North Africa-focused fund, the firm has backed companies including Dubai-based PoultrySync, which offers AI-powered waste management for small poultry farmers, and Egypt’s Breadfast, a fresh grocery last-mile delivery company.
