TLDR:
Shorooq Partners has launched a new $100 million venture debt fund and hit its first close. The fund will focus on investing in Series A+ companies in various sectors with an average ticket size of $10 million+. Some notable investments by Shorooq Partners include Pure Harvest, Tamara, Nymcard, Sarwa, Lean Technologies, Trukker, and Lendo.
Key Points:
- Shorooq Partners has launched a new $100 million venture debt fund and hit its first close.
- The fund will invest in Series A+ companies with an average ticket size of $10 million+ in various sectors.
Abu Dhabi-based Shorooq Partners announced the launch of its new venture debt fund, partnering with a Korean firm for the second time. The fund’s focus will be on investing in emerging leaders in manufacturing, financing, and software services. Shorooq’s previous debt fund has shown success with investments in firms like Pure Harvest and Tamara, with the latter securing $250 million in debt financing, $50 million of which came from Shorooq. The fund aims to provide non-dilutive funding options for mature companies and founders, offering a compelling avenue for sustained growth and scalability.
Shane Shin, Founding Partner at Shorooq Partners, emphasized the importance of non-dilutive financing in the MENA region and the fund’s mission to foster scalable growth in invested companies. Nathan Kwon, a Principal at Shorooq Partners, highlighted the significant interest in the fund, with over $400 million worth of deal flow from companies that did not qualify for credit. The fund aims to continue driving economic growth and innovation through strategic investments in startups across the region.
