500 Startups Appoints SHUAA Capital as an Advisor to its 500 Falcons I Fund

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

SHUAA under 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 the Middle 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.

“We are 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 500 Startups.

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

“500 Startups 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.

Alseddiqi took the helm of SHUAA in 2019 after a successful merger with Abu Dhabi Financial 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 Commercial Bank and The Entertainer.

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

About 500 Startups

500 Startups 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 77 countries. Our 140-plus team members are located in more than 17 countries to support 500 Startups' global portfolio. Notable investments include Credit Karma, Canva, Talkdesk, Intercom, GitLab, Grab, and Bukalapak.

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

About SHUAA Capital

SHUAA Capital 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.

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¹Source: PitchBook Data Inc., 2019 Annual Global League Tables (https://pitchbook.com/news/reports/2019-annual-global-league-tables), page 12