500 Startups collects $30 mln for fund backing MENA startups: Arabian Business.com

Silicon Valley-based venture firm 500 Startups has raised $30 million for a fund that targets startups based in the Middle East and North Africa, reported Arabian Business.com. Named 500 Falcons, the fund will focus on making seed investments between $50,000 and $100,000 in 100 to 200 companies. The sectors of interest include e-commerce, fintech, hardware and internet of things.