A Venture Capitalist Abroad: 500 Startups Creates Middle East Tech Fund

The $30 million fund will make small investments in startups based in the region.
Photographer: David Paul Morris/Bloomberg

Dave McClure wants to dispel some stereotypes about his venture capital firm's latest stomping ground: "The popular image of what's going on in the Middle East is either Isis or sheikhs with a bunch of oil, but the reality is there are millions of people who aren't rich or poor," said McClure, the Silicon Valley-based founding partner of 500 Startups.

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