Riyadh-based alternative investment platform Sukna Capital has entered into a strategic partnership with global credit manager Partners for Growth (PFG) to deploy up to $50 million in specialty loans. The collaboration is aimed at financing high-potential technology companies and small and medium-sized enterprises (SMEs) across Saudi Arabia and the broader Middle East.
Bridging The Gap With Non-Dilutive Capital
The partnership will provide growth-stage businesses with a range of financing options, including working capital lines, contract financing, and customized term loans. This initiative introduces multi-lender opportunities to Sukna’s direct lending platform, reinforcing its strategy of delivering flexible, Sharia-compliant credit through its Sukna Fund for Direct Financing (SFDF). The SFDF, the first open-ended fund of its kind in the Kingdom, offers non-dilutive solutions that allow founders to preserve equity and access liquidity beyond what is typically available through conventional credit.
Combining Local Expertise With Global Standards
This collaboration merges PFG’s international expertise in asset-backed lending with Sukna’s deep understanding of the regional market. It aims to provide entrepreneurs with institutional-quality credit tailored to their growth trajectories.
“This partnership with PFG reflects Sukna Capital’s commitment to bringing global standards to local markets,” said Sukhdev Hansra, Head of Asset Management at Sukna Capital. “Together, we are providing entrepreneurs with financing that is both flexible and aligned with their growth ambitions. For Saudi Arabia and the MENA region, it means more founders can access institutional-quality credit without giving up equity, accelerating innovation and value creation.”
Andrew Kahn, Co-founder & CEO at Partners for Growth, added, “PFG has been proud to support high-growth companies in the Middle East over the past five years… Our approach has always been to listen first, then structure financing that accelerates growth while preserving equity and control.”
About Sukna Capital
Sukna Capital is a CMA-licensed investment firm based in Riyadh, offering venture capital, private equity, real estate, and direct financing solutions. Its Sukna Fund for Direct Financing (SFDF) is the Kingdom’s first open-ended, Sharia-compliant direct lending fund, designed to provide flexible, non-dilutive financing to SMEs and growth-stage businesses.
About Partners for Growth (PFG)
Partners for Growth (PFG) is a global private credit firm specializing in custom debt solutions for high-growth companies. For over twenty years, PFG has provided growth debt financing to technology, fintech, healthcare, and tech-enabled companies to accelerate their path to profitability or finance specific assets. Since its inception, PFG has partnered with over 250 companies across more than 15 countries.
Source: Zawya
