Global venture capital firm 500 Global has been selected to support the “Startup Venture Building (Startup VB)” initiative, a key program under Morocco’s ambitious Digital Morocco 2030 strategy. This partnership marks a significant step in the Kingdom’s efforts to cultivate a thriving innovation ecosystem and signals 500 Global’s deepening commitment to the African continent.
Strengthening a National Innovation Ecosystem
Launched by the Ministry of Digital Transition and Administrative Reform and implemented by TAMWILCOM, the Startup VB initiative aims to accelerate the growth of high-potential Moroccan founders. The program is designed to provide entrepreneurs with the necessary training, network access, and financing pathways to launch and scale their ventures on a global stage.
The Ministry’s primary goals are to foster the development of impactful technology solutions, mobilize founder-led financing, and drive the country’s overall digital transformation. As an implementation partner, 500 Global will leverage its extensive experience to help operationalize these ambitions through direct founder support and early-stage capability development.
A Bridge Between Continents
Demola Adegbite, Partner at 500 Global leading the firm’s African investments, highlighted the strategic importance of this collaboration. He emphasized that strengthening early-stage ecosystems is crucial for closing Africa’s growth gap.
“Our work across emerging markets has shown that ecosystems accelerate fastest when public-sector leadership and private-sector expertise move in lockstep,” Adegbite 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.”
500 Global’s Deepening African Footprint
This move into Morocco builds on 500 Global’s long-standing presence in the region. The firm made its first African investment in 2011 and has since backed over 100 companies on the continent, including notable names like Chipper Cash, Smile Identity, Stitch, and MENA-based startups Money Fellows and Breadfast.
Beyond direct investment, 500 Global has actively participated in ecosystem development. Since 2022, it has partnered with Egypt’s Information Technology Industry Development Agency (ITIDA) to support over 150 founders. The firm’s expansion underscores a broader strategy to transform emerging ecosystems into investable innovation hubs that can support the continent’s long-term development goals.
About 500 Global
500 Global is a multi-stage venture capital firm with $2.2B in assets under management that invests in founders building fast-growing technology companies. The firm works closely with key stakeholders and advises governments on how best to support entrepreneurial ecosystems. 500 Global has backed over 5,000 founders representing more than 3,000 companies operating in over 80 countries, including more than 35 unicorns and over 160 companies valued at more than $100 million.
Source: Zawya
