500 Global Expands Physical Presence in Africa to Better Support its Portfolio
The venture capital and startup accelerator fund, 500 Global, has made 156 investments in Africa since 2012 and is now planning to expand its physical presence on the continent to better support its portfolio.
Launched in 2010 in the United States as 500 Startups, 500 Global has expanded internationally, organizing programs and making early-stage investments worldwide. It was one of the first American venture capital funds to launch regional funds, including in Latin America, South Asia, South Korea, and the MENA region. Its first investments in Africa were made in Egypt in 2012, and since then, 500 Global has built a portfolio of 156 companies across the continent.
This portfolio includes companies such as Chipper Cash, MaxAB, Stitch, SweepSouth, and Moneyfellows. Initially, most investments in sub-Saharan Africa were made through its global fund, focusing on opportunistic markets.
The company's approach in Africa is evolving, now aligning with its strategy in Egypt, with the establishment of a dedicated local team. The goal is to provide support to startups and strengthen engagement with African founders.
500 Global is optimistic about the potential of African markets and believes that local teams are essential to offering adequate support to its portfolio companies.
