Riyadh - Sharikat Mubasher: Amplify Growth Partnership, a leading provider of innovative financial services, launched a $100 million private debt fund to provide debt capital to technology-focused companies across the Middle East, North Africa, and Turkey (MENA) region.

Amplify Growth Fund I successfully closed its first transaction, deploying capital to fund the growth capital requirements of an innovative fintech company in Saudi Arabia, the company announced in a statement.

The growth debt fund aims to fill the existing debt capital gap and accelerate the growth of technology-driven businesses in the Series A to Series C stages. It will focus on market-standard-sized transactions that cater to the broader needs of the venture capital (VC) ecosystem.

The fund will be led by Sharaf Sharaf, a regional investment professional who has a 20-year track record in debt and equity investments across a broad range of sectors and geographies, as well as fund management experience. Sharaf will oversee origination, deal evaluation, and portfolio management.

Commenting on this acheivement, Sharaf affirmed the fund’s commitment to meeting the region’s growing demand for debt capital in the venture and small and medium-sized enterprises (SME) sectors.

“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,” Sharaf said.

Up to 20% of the fund’s capital will be available for businesses outside of MENA aiming to enter the region and for traditional enterprises integrating technology into their operations. 

It is worth noting that the Amplify Growth Partnership is a partnership between Ajeej Capital and Nuwa Capital.