US-based 500 Startups closes oversubscribed $33 million Falcons Fund
Over the past few years, there have been an increasing number of investment institutions that are interested in the startup ecosystem in the Middle East and North Africa (MENA). Not only regional investors have turned to startups, but also international investors are coming to the region in order to expand their portfolio.
One of those international investors is US-based venture capital firm 500 Startups, which has consistently been one of the most active investors in MENA-based startups over the last few years. The company even set up a fund dedicated to the Middle East and North Africa, called the 500 Falcons Fund. Set up initially in 2012, the Falcons Fund is meant to fund early-stage startups and aid them in their growth of the business.
Recently, 500 Startups announced that it had an oversubscribed final closing for their first this region focused fund. Initially, they set out to raise a $30 million fund, but eventually held an oversubscribed final closing for the fund at $33 million. Read more about the oversubscribed closing of the fund here.