500 Global Expands Africa Presence; Selected to Advance Digital Morocco 2030 Strategy

(BUSINESS WIRE) -- 500 Global, one of the world’s most active venture capital firms¹, announced it has been selected to support the Ministry-led Startup VB initiative, a flagship program under the Digital Morocco 2030 strategy². This announcement marks a significant milestone in 500 Global’s continued expansion across the African continent and its work collaborating with governments to strengthen national innovation ecosystems.

Launched by the Ministry of Digital Transition and Administrative Reform (Ministry) and deployed by TAMWILCOM, the Startup VB initiative is a flagship program under the Digital Morocco 2030 strategy. Startup VB aims to strengthen Morocco’s innovation and digital competitiveness by accelerating high-potential founders and providing the training and financing pathways needed to launch and scale globally. The Ministry’s goals include enabling the development of innovative and impactful technology solutions, mobilizing founder-led financing, and advancing the country’s digital transformation. As a selected implementation partner, 500 Global is eager to help operationalize these ambitions through founder support, network access, and early-stage capability development, while strengthening Morocco's national innovation systems.

Demola Adegbite, Partner at 500 Global, who is leading the firm’s venture investments across Africa, emphasized how this builds on more than a decade of 500 Global’s work across the continent. With over 20 years of experience in private equity, investment banking, and venture capital, Adegbite noted that closing Africa’s growth gap requires strengthening early-stage ecosystems while ensuring founders can access the right capital and capabilities as they scale. “Our work across emerging markets has shown that ecosystems accelerate fastest when public-sector leadership and private-sector expertise move in lockstep,” he said. “By supporting the Digital Morocco 2030 strategy, we look forward to connecting Moroccan founders to our global growth networks across the Middle East, Africa, and Europe, where we believe the country is uniquely positioned to serve as a bridge for global expansion.”

As Africa moves toward 2030, we see its demographic trajectory underscoring both the urgency and opportunity of investing in market-shaping innovation. With rapid urbanization and the world’s fastest-growing workforce, we believe the continent demands private capital that builds more than companies—it must also strengthen the foundations of talent, infrastructure, and policy that enable scalable, technology-led growth. By expanding its footprint across Africa, building localized teams, and supporting government initiatives such as Digital Morocco 2030, 500 Global aims to unlock strategic resources that transform emerging ecosystems into investable innovation hubs and supports the continent’s long-term development ambitions.

About 500 Global

500 Global is a multi-stage venture capital firm with $2.2B in assets under management³ that invests in founders building fast-growing technology companies. We work closely with key stakeholders and advise governments on how best to support entrepreneurial ecosystems and economic development in emerging markets. 500 Global has backed over 5,000 founders representing more than 3,000 companies operating in 80+ countries. We have invested in more than 35+ companies valued at over $1 billion and 160+ companies valued at over $100 million (including private, public, and exited companies)⁴.

500 Global made its first investment in Africa in 2011. Since then, 500 has invested in and supported 100+ portfolio companies in Africa that have gone on to raise approximately $1 billion in capital, notably backing Chipper Cash, Smile Identity, Stitch, Money Fellows and Breadfast. Beyond direct investment, 500 Global has been a partner in ecosystem development, working closely with governmental entities in providing acceleration and growth support for founders. Since 2022 we have partnered with the Information Technology Industry Development Agency (ITIDA) to provide support for 150+ Egyptian founders through our Seed Bootcamp and Scale-Up initiatives. In 2025, 500 Global further expanded its continental footprint with the launch of founder programs in Nairobi as part of its Sustainable Innovation Program, which aims to activate startup accelerators in three hubs on the continent by the end of 2026.

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¹ Based on PitchBook’s 2024 Global League Tables.
² Running of the program is still subject to the negotiation and execution of definitive contractual agreements with the relevant parties.
³ ASSETS UNDER MANAGEMENT (AUM) CALCULATIONS ARE BASED ON INTERNAL ESTIMATES AS OF JUNE 30, 2025.
⁴ BASED ON INTERNAL ESTIMATES AS OF JUNE 30, 2025, WHICH HAS NOT BEEN INDEPENDENTLY VERIFIED.

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