Shorooq Partners, an Abu Dhabi-based alternative investment manager, has closed its $100 million second private credit fund.

The tech-focused fund launched in collaboration with IMM Investment Global (IMMG), an arm of IMM Investment, a private equity and venture capital firm in South Korea, with over $6 billion in assets under management.

This fund marks a second collaboration between the two entities following the launch of the first credit fund in 2021, according to a statement. The Nahda Fund 1 invested in start-ups based in the MENA region, including Pure Harvest, a smart farm producing fresh crops, and Tamara, Saudi Arabia’s first Buy Now, Pay Later (BNPL) platform.

(Writing by Bindu Rai, editing by Brinda Darasha)