Dubai-based venture capital firm 500 Startups has rebranded as 500 Global amid an expansion of its investment strategy.
The change of name comes on the back of the close of its US$140 million flagship fund, which brings the firm’s assets under management to £1.8 billion.
The change in strategy will see the firm move beyond investing solely at the accelerator and seed stage in order to support the later stages of a company’s growth.
According to 500 Global CEO and founding partner, Christine Tsai, the firm has already begun making large investments into its target companies as well as offering “later stage co-investment opportunities” to limited partners.
“Today, global startup ecosystems are developing at a pace that has never been seen before,” said Tsai.
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