ADFG buys stake in 500 Startups

Dubai

Abu Dhabi Financial Group (ADFG), with assets under management in excess of $6 billion (Dh22 billion), is making a significant investment and will hold a strategic stake in California-based 500 Startups, an early-stage venture fund and seed accelerator.

Through this investment, ADFG will be injecting substantial capital to accelerate the growth of 500’s key initiatives, expand into new markets (including the Middle East), and anchor future global funds. With this investment, Dr Saleh Al Hashemi, Chief Executive Officer of Algorythma, will join 500’s Board of Officers.