Early-stage venture fund and seed accelerator 500 Global has made 156 investments in Africa since 2012, and is now planning a beefed up physical presence on the continent to better support its portfolio. Launched in 2010 in the United States (US) as 500 Startups, 500 Global ran its first accelerator in Silicon Valley in 2011 and has since expanded globally, running programmes and making early-stage investments all over the world. Its first African investments were made in Egypt in 2012 via the latter vehicle, and since then 500 Global, which the firm is now known as after a 2021 rebrand, has built a portfolio of 156 ventures across the continent. This portfolio includes investments in the likes of Chipper Cash, MaxAB, Triply, Aella Credit, Stitch, SweepSouth, Breadfast, NowPay and Moneyfellows. Mareme Dieng, Africa lead at 500 Global, told the latest episode of “The month in VC”, Disrupt Africa’s regular podcast on the African venture capital space, that aside from the North African investments via its MENA fund, most of 500’s Sub-Saharan African investments have been made through its global fund.

Source: The North Africa Journal October 17, 2024 06:47 UTC