{"id":86229,"date":"2024-05-16T00:00:00","date_gmt":"2024-05-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/shorooq-partners-latest-venture-debt-fund-looking-for-more-exposure-to-saudi\/"},"modified":"2024-05-16T00:00:00","modified_gmt":"2024-05-16T00:00:00","slug":"shorooq-partners-latest-venture-debt-fund-looking-for-more-exposure-to-saudi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/shorooq-partners-latest-venture-debt-fund-looking-for-more-exposure-to-saudi\/","title":{"rendered":"Shorooq Partners\u2019 latest venture debt fund looking for more exposure to Saudi"},"content":{"rendered":"

Shorooq Partners<\/a><\/strong>\u2019 USD 100 mn venture debt fund is eyeing fast-growing startups in <\/strong>Saudi<\/strong> and the UAE, Founding Partner Mahmoud Adi told Asharq Business (watch, runtime, 6:31<\/a>). <\/p>\n

The targets: <\/strong>Fast-growing, profitable tech firms. It already has two fintech startups in its investment pipeline, Adi said. The fund, named Nahda II, follows Shorooq\u2019s first venture debt fund, which launched in 2021<\/a>. <\/p>\n

The local angle: <\/strong>Nahda I provided USD 50 mn in mezzanine finance<\/a> to homegrown BNPL platform Tamara<\/a> in November 2023. The Shorooq fund was joined at the time by Goldman Sachs, which arranged USD 200 mn in senior debt for Tamara. <\/p>\n

SOUNT SMART- What\u2019s venture debt? <\/strong>Firms offering venture debt are effectively competing with banks. Why work with one, then? Venture debt providers have \u2014 by definition \u2014 higher risk appetite. They may charge more, but they\u2019re also a lot more likely to understand and extend finance to a startup than many traditional lenders. <\/p>\n","protected":false},"excerpt":{"rendered":"

Shorooq Partners is in talks to invest in two fintechs<\/p>\n","protected":false},"author":1,"featured_media":86230,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2831],"tags":[10,208,2012,611,521,5],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-venture-capital","tag-enterpriseam-ksa","tag-fintech","tag-nahda-fund","tag-shorooq-partners","tag-startups","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"fe0c69c4-df58-4a05-93a1-8488dc08c62f","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/545.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Shorooq Partners is looking for more exposure to Saudi startups looking for venture debt","related_issue":[86220],"teaser":"Shorooq Partners is in talks to invest in two fintechs","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.417d348b-1442-40de-8cd7-2071e5b801aa.mp3"},"yoast_head":"\nShorooq Partners\u2019 latest venture debt fund looking for more exposure to Saudi - 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