Dubai-based asset manager Ajeej Capital and venture capital firm Nuwa Capital have partnered to launch a $100m private debt fund aimed at providing debt capital to technology-focused companies across the MENAT region, with a particular focus on the GCC.
The new fund, called the Amplify Growth Partnership, is managed by Ajeej Capital, which is based in the Dubai International Financial Centre (DIFC), while Nuwa Capital serving as an advisor.
Amplify has already completed its first transaction with a fintech company operating in Saudi Arabia, though the company has chosen to remain unnamed.
Up to 20% of Amplify’s capital will be allocated to businesses outside the MENA region that plan to enter the market, as well as to traditional enterprises incorporating technology into their operations.
