Ajeej Private Debt launches $100m growth fund, closes first Saudi fintech deal

Amplify Growth Partnership — established with Nuwa Capital — leads Ajeej’s private debt strategy
Expanding access to minimally dilutive capital for scaling technology companies

Ajeej Capital’s private debt arm, Amplify Growth Partnership — established in collaboration with Nuwa Capital — has officially launched its debut $100 million growth debt fund. This fund represents a cornerstone in Ajeej Private Debt’s ambition to bring innovative financing solutions to high-growth businesses across MENA. Growth debt fills a structural gap: where traditional bank lending remains conservative and equity funding often dilutes founders excessively, Ajeej provides a disciplined alternative that empowers entrepreneurs to scale their companies while retaining ownership. This approach directly addresses a long-underserved need in the region’s financing landscape.

The launch was immediately validated by Amplify’s first successful transaction, deploying capital into a fintech company in Saudi Arabia. This deal demonstrates the fund’s ability to move swiftly and decisively, focusing on companies with proven market demand and strong scaling potential. By targeting firms at the Series A–C stages, Ajeej Private Debt ensures its capital flows into businesses with established traction but in need of additional funding to expand operations, enter new markets, or invest in technology. This strategic focus highlights Ajeej’s role as a catalyst for regional innovation and economic diversification.

“The Amplify Growth Fund is poised to meet the region’s growing demand for debt capital in the venture and SME sectors, which have been historically underserved.” — Sharaf Sharaf, Head of Amplify Growth Partnership

Filling the debt capital gap

Venture debt remains a relatively new concept in the MENA region, but its benefits are increasingly recognised by both founders and investors. For entrepreneurs, it provides growth capital without the loss of significant equity. For institutional investors, it offers a way to gain exposure to high-growth markets with attractive risk-adjusted returns. By institutionalising private debt and embedding it into Ajeej’s platform, Amplify is helping to legitimise this asset class and create new avenues for capital deployment in underbanked segments of the market.

Building an enduring platform

Ajeej Private Debt has been designed with long-term ambition. It integrates rigorous processes, transparent governance, and strong risk management frameworks that provide confidence to investors while ensuring flexibility for founders. With deep regional roots and global credibility, Ajeej is building a sustainable platform that can scale into larger funds and broader markets over time. This foundation ensures that Ajeej Private Debt will remain a permanent and influential force in the MENA financing ecosystem.

‍