Amplify Growth Partnership Unveils $100M Fund Targeting MENA Technology Sector
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Sharaf Sharaf of Amplify Growth Partnership
Amplify Growth Partnership has launched a $100 million growth debt fund aimed at supporting technology companies across the Middle East, North Africa, and Turkey (MENA). The fund seeks to provide debt capital to tech-driven firms, particularly those in the Series A to Series C stages, addressing a debt capital gap in the region's venture and SME sectors.
Amplify has already completed its first transaction, providing capital to a fintech company in Saudi Arabia. The fund focuses on transactions that align with standard market sizes, targeting the broader venture capital ecosystem rather than mega-deals that dominated 2023, when MENA debt capital for venture-backed companies surged to $757 million—up 262% from the previous year.
Led by investment veteran Sharaf Sharaf, Amplify aims to accelerate the growth of tech businesses in the region. Sharaf brings two decades of experience in debt and equity investments, with a goal to help underserved companies realize their growth potential. The initiative is a collaboration between investment firms Ajeej Capital and Nuwa Capital, alongside Amplify’s team, working to build a long-term investment platform for emerging companies.
Source: Gulf News
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