Amplify Growth Partnership Launches $100 Million Private Debt Fund
to Boost Tech Companies in MENA
Amplify Growth Partnership has officially launched a $100 million growth debt fund aimed at supporting technology-driven companies across the Middle East, North Africa, and Turkey (MENA) region. This new fund will provide critical debt capital to fuel the expansion of tech businesses, particularly those in the Series A to Series C stages.
As a significant first step, Amplify has already closed its inaugural transaction, deploying capital to meet the growth needs of a Saudi Arabian fintech company.
Despite a notable increase in debt capital for venture-backed companies in MENA in 2023—reaching $757 million, a 262% rise from 2022—this growth was largely driven by a few high-profile deals. Amplify plans to fill the gap by focusing on more standardized transactions that cater to a broader range of businesses in the region’s VC ecosystem.
The fund will be led by Sharaf Sharaf, an experienced regional investment professional with over 20 years of expertise in debt and equity investments across various sectors and geographies. Sharaf will oversee deal sourcing, evaluation, and portfolio management to ensure the fund achieves its goal of driving growth in MENA’s tech landscape.