Amplify Growth Partnership has unveiled a $100 million growth debt fund aimed at providing debt capital to tech-driven companies in the MENA region, with a particular focus on the GCC. The fund is the result of a collaboration between Ajeej Capital and Nuwa Capital, and is led by seasoned investment professional Sharaf Sharaf.
The fund’s first transaction was successfully completed with a fintech company in Saudi Arabia, marking a significant milestone for Amplify. The $100 million fund aims to support technology-focused businesses across the Middle East, North Africa, and Turkey (MENA) region, targeting companies in the Series A to Series C stages.
Amplify Growth Partnership’s goal is to address the existing gap in debt capital for technology-driven enterprises. Although 2023 saw a notable increase in venture-backed debt funding in MENA, rising to $757 million, much of this growth was concentrated in a few large deals. Amplify intends to focus on more standard-sized transactions, catering to a wider range of businesses within the venture capital ecosystem.
Led by Sharaf, who brings two decades of experience in debt, equity, and fund management across various sectors, Amplify seeks to play a pivotal role in the region’s evolving venture and SME markets. Sharaf emphasized the fund’s mission to provide innovative debt solutions to help founders and entrepreneurs secure the capital needed for growth.
“The Amplify Growth Fund is positioned to meet the increasing demand for debt capital in the region’s venture and SME sectors, areas that have traditionally been underserved,” Sharaf said. He also highlighted the strong pipeline of deals in progress, with a second deal announcement expected soon.
Amplify Growth Partnership Fund will prioritize investments in companies with strong market traction that are actively scaling, while allocating up to 20% of its capital for businesses outside the MENA region that are looking to enter the market, as well as traditional enterprises incorporating technology into their operations.
As a partnership between Ajeej Capital and Nuwa Capital, Amplify Growth Partnership will leverage the expertise and networks of both firms to foster growth and create opportunities for its portfolio companies.
Discover the State of Funding in MENA – 2019 to 2023 :
https://assiyaq.com/the-state-of-startup-funding-in-mena-2024-report/ of this month is taking you through the ups and downs of MENA’s startup funding over the last 5 years. If you’re a startup founder, an investor or an ecosystem builder, this is your chance to learn from the past, spot the trends, and write your own success story.
Don’t miss out on knowing the history that could shape our future!
