Sukna Capital is preparing to launch a second venture capital fund with a target size of $100 million, expanding its focus on startups and innovation across Saudi Arabia and the wider region.
Sukhdi Hansri, the firm’s head of asset management, disclosed the plan during LEAP 2026. Sukna’s existing venture fund has secured commitments for its full $50 million capital.
The firm invests across software-as-a-service, artificial intelligence and other technology companies, as well as industrial businesses and acquisition financing. Its broader investment platform also covers direct lending, real estate and private equity.
Sukna is also growing its private credit business. Hansri said its debt fund has invested around SAR100 million to date and aims to raise an additional SAR250 million over the next six months.
In 2025, the company received approval from Saudi Arabia’s Capital Market Authority to launch the Sukna Direct Lending Fund, an open-ended vehicle targeting small and medium-sized businesses, technology companies, and venture capital funds.
The company said its strategy combines equity and debt financing to support businesses at different stages, from early startup development to expansion. Hansri said debt becomes increasingly relevant as companies mature, generate revenue and scale beyond the stage where venture capital alone can meet their funding needs.
Source: Jawlah
