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ISSUE – Apr. 04 | 500 Startups, still recovering from scandal, is giving some control to an Abu Dhabi investment firm

The accelerator program 500 Startups was roiled by drama last year after the ouster of its CEO, Dave McClure, under allegations of sexual harassment.

Now 500 Startups is making its most meaningful governance change since McClure resigned from the role last year. In an unusual deal, the firm said it would sell some equity in its parent company, called Mothership, to the Abu Dhabi Financial Group, which will now help manage 500 Startups operations alongside McClure’s successor, Christine Tsai. [ Recode ]

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