– Amplify Growth Partnership has introduced a $100 million fund to provide debt capital to technology-focused companies across the MENA region, aiming to bridge the debt capital gap for businesses in Series A to Series C stages.

– The fund successfully closed its first deal by financing the growth of an innovative fintech company in Saudi Arabia, with a focus on supporting standard-sized transactions that cater to the broader venture capital ecosystem.

– Led by Sharaf Sharaf, an investment professional with 20 years of experience, Amplify aims to serve the growing demand for debt capital in the venture and SME sectors, partnering with Ajeej Capital and Nuwa Capital to create long-term opportunities for scaling businesses.

Amplify Growth Partnership has launched its $100 million growth debt fund, aimed at providing debt capital to technology-focused companies across the Middle East, North Africa, and Turkey (MENA) region.

The fund has successfully closed its first transaction, providing growth capital to an innovative fintech company in Saudi Arabia.

Amplify intends to address the existing debt capital gap and accelerate the growth of technology-driven businesses in Series A to Series C stages. While 2023 saw a record $757 million in venture debt across MENA—an increase of 262% from 2022—most of this was driven by a few large transactions. Amplify, in contrast, will focus on standard-sized deals that cater to the wider VC ecosystem.

Sharaf Sharaf, with over 20 years of experience in debt and equity investments, will lead Amplify, overseeing deal origination, evaluation, and portfolio management.

“The Amplify Growth Fund is poised to meet the region’s growing demand for debt capital in the venture and SME sectors, which are areas that have been historically underserved. Amplify unites two pioneering investment firms, Ajeej Capital and Nuwa Capital, who together with the Amplify team, seek to build an enduring franchise that empowers companies to access the growth capital they need to realize their ambitions.” Sharaf commented.

“We provide innovative debt solutions to meet the evolving needs of owners, founders, and entrepreneurs. With a strong pipeline of deals and an upcoming announcement of a second deal, we are on track to make a lasting impact on the market.” he continued. 

Amplify will focus primarily on companies with proven market demand that are scaling up. Additionally, 20% of its capital will be available for companies outside MENA looking to enter the region or traditional businesses adopting new technologies.

Amplify Growth Partnership GP Limited is a collaboration between Ajeej Capital and Nuwa Capital, both of which will leverage their expertise and networks to create growth opportunities for Amplify and its portfolio companies.