RIYADH, Saudi Arabia--(BUSINESS WIRE)--500 Global, a leading U.S.-based venture capital firm, has promoted Amal Dokhan General Partner 500 Global MENA. Dokhan joined 500 Global one year ago as Partner, 500 Global MENA to oversee the Sanabil 500 MENA Seed Accelerator program and fund. Under her leadership, the fund has invested through the program and directly in more than 40 seed-stage companies across the Middle East and North Africa. Several have subsequently raised millions in funding collectively. They include Starzly, a personalized entertainment app, Playbook, an edutainment platform, and Sanad Cash, an on-demand payment platform.
“We’re very proud of Amal’s accomplishments. She has been instrumental in getting the Sanabil 500 MENA Seed Accelerator program off the ground, working together with me to select the most promising founders the region has to offer, while serving as an indispensable mentor to many of them to help them launch in Saudi Arabia and the rest of the region. Amal plays an integral part as 500 Global cements its role as an ecosystem-builder and investor in the region,” said Bedy Yang, Managing Partner at 500 Global.
500 Global continues to build a strong presence in Saudi Arabia. Endeavor recently ranked it the most influential investor in Riyadh’s entrepreneurial ecosystem based on its support of the highest number of tech companies, which has in turn led founders at those startups to support other fledgling entrepreneurs.
Venture funding for startups in Saudi Arabia has nearly quadrupled between 2020 and 2021 to $548 million, with the number of deals rising by 54% to 139, according to Magnitt.
“Amal has moved fast to establish 500 Global as a key contributor to Saudi Arabia’s rapidly evolving startup ecosystem. As one of a handful of female investors in the country, she’s also been a trailblazer and a role model for other women aspiring to become investors or founders,” said Courtney Powell, Chief Operating Officer and Managing Partner at 500 Global.
Prior to joining 500 Global, Dokhan was an angel investor in Saudi Arabia, and held various positions, including CEO of GEN Saudi, Managing Director of Babson Global Center for Entrepreneurial Leadership, and Manager of Learning and Design at the Entrepreneurship Center at King Abdullah University of Science and Technology.
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