500 Startups Appoints SHUAA Capitalas an Advisor to its 500 Falcons I Fund

Theappointment comes as the global venture capital firm expands in MENA

SAN FRANCISCO--(BUSINESS WIRE/AETOSWire)-- 500 Startups, the most active early-stage venture capital firm globally1, announced today the appointment of SHUAA Capital, represented by Jassim Alseddiqi, as Advisor toits Falcons I fund in MENA (500 Falcons, L.P.).

SHUAAunder Alseddiqi’s leadership will focus its support on advising 500 Startups’Falcons I portfolio companies in financing and exit strategies, as the firm’s MENA fund nears the end of its deployment.

As CEO of SHUAA, Alseddiqi runs one of the leading financial services firms in theMiddle East, SHUAA Capital psc (DFM: SHUAA), with USD 13 billion under management. He is actively involved in the region’s startup ecosystem, leading multiple investments in AI, Edtech, Fintech, and other sectors.

“Weare thrilled to have SHUAA and Jassim with us as we prepare for the next phase of 500 in MENA. As a seasoned asset manager and executive, he brings a wealth of experience, and his service and mentorship will be invaluable to our portfolio founders,” says Courtney Powell, Chief Operating Officer of 500Startups.

Alseddiqi’sappointment follows the announcement of new additions to Falcons I, including body Yang as Managing Partner, and Rina Onur as Advisor.

“500Startups is a powerhouse in MENA with a unique global platform that has contributed significantly to the startup ecosystem. Having built a deep network of investors and investments across MENA with SHUAA, I look forward to guiding and collaborating with founders to take their businesses to the next level, whether through further development or exit strategies. SHUAA is keen on building on our VC and Technology sector investments and exposure, and we are proud to align ourselves with world-class institutions such as 500 Startups,” says Jassim Alseddiqi.

Alseddiqitook the helm of SHUAA in 2019 after a successful merger with Abu DhabiFinancial Group (ADFG) which he founded in 2011. He is also an active board member of a number of companies, including chairman of Gulf Finance House, SALAMA Islamic Arab Insurance Company, Eshraq Investments, Khaleeji CommercialBank, and The Entertainer.

Alseddiqiholds a BSc in Electrical Engineering from the University of Wisconsin-Madison and an MSc in Electrical Engineering from Cornell University.

About 500 Startups

500Startups is one of the most active global early-stage venture capital firms. Since our inception in 2010, we have invested in over 2,400 companies across 77countries. Our 140-plus team members are located in more than 17 countries to support 500 Startups' global portfolio. Notable investments include CreditKarma, Canva, Talkdesk, Intercom, GitLab, Grab, and Bukalapak.

We also help develops innovation ecosystems by supporting startups and investors through the accelerator and educational programs, events, and partnerships with corporations and governments around the world.

About SHUAA Capital

SHUAACapital psc (DFM: SHUAA) is a leading asset management and investment banking platform, with USD 13 billion in assets under management and with offices throughout the Middle East and the United Kingdom. SHUAA Capital psc is recognized for its strong track record and pioneering approach to investing through a differentiated, innovative, and global product offering focused on public and private markets, debt, and real estate.