Nurturing Tomorrow's Innovators

Nurturing Tomorrow's
Innovators

Venture Capital
Direct Investments
Venture Debt

AFG drives innovation and economic transformation through a disciplined, multi-dimensional venture capital approach. We deploy capital across three distinct models, each designed to support high-potential start-ups at critical stages of growth. These include our Venture Equity Fund, Direct Investments, and Venture Debt platform, all structured to accelerate scale, strengthen operations, and create lasting impact across the region.

Venture Equity Fund

AFG serves as the anchor investor and strategic partner of Nuwa Capital, a leading venture firm empowering disruptive early-stage companies across MENA.

Nuwa combines founder-first principles with institutional rigor, providing hands-on guidance, strategic insight, and access to a robust regional network. Today, Nuwa manages over $350 million in assets and has supported 40+ startups across fintech, healthtech, foodtech, and digital commerce, each contributing to the region’s evolving digital economy.

Explore Nuwa Capital

Sample Investments

An omnichannel eyewear marketplace for the Middle East.

Saudi Arabia's first B2B "Buy Now, Pay Later" platform.

A comprehensive spend management platform.

Luxury serviced and fully furnished apartments in Dubai.

Strategic investment solutions for business growth.

A digital health and wellness super-app.

An AI-powered procurement and bid management platform.

The leading multi-brand cloud kitshen concept in Turkey.

A peer to peer lending platform focused on democratizing access to funding for SMEs in Saudi Arabia.

Direct Investments

AFG invests directly in high-growth startups that align with its strategic priorities.

These direct investments reflect our strong conviction in nurturing the new economy for the region. AFG backs founder-led innovation and provides strategic guidance to scale the business through operational support and market access.

Sample Investments

Active

Customizable healthy meal-plan provider operating in the GCC.

Active

Critical liquidity to the Saudi Exchange.

Active

Leading platform for short-term rentals in Saudi Arabia.

Exited

B2B SAAS company.

Exited

Mobile gaming publisher focused on Arabic content.

Exited

An investment platform for U.S. stocks and global ETFs.

Venture Debt

AFG supports founders through venture debt provided via Amplify Growth Partners, a specialized platform offering flexible, non-dilutive capital to high-potential companies.

Managed by Ajeej Capital and advised by Nuwa Capital, the fund reflects a disciplined, partnership-driven approach that ensures alignment across our venture ecosystem. Through tailored debt solutions, Amplify Growth Partners helps businesses extend runway, strengthen operations, and advance toward sustainable, long-term growth, reinforcing AFG’s commitment to enabling impactful enterprises across the region.