Riyadh - Sharikat Mubasher: MASNA Ventures, Saudi Arabia's first venture capital firm focusing on scaling the defense ecosystem, launched the first defense-focused VC fund, named MASNA Ventures Fund I, to catalyze localized manufacturing of advanced US and allied defense technologies in the Kingdom.
With a capital of SAR 357 million (nearly $100 million), the fund targets emerging opportunities across adjacent defense and industrial categories, including supply chain, procurement and logistics, defense and aerospace MRO/services, opportunities in AI, and broader manufacturing equity investment positions in the ecosystem, the company announced in a press release today.
MASNA Ventures, co-founded and led by its general partners Lucien Zeigler and Nehal Farooqui, targets newly established Saudi companies created by SR2 Defense Systems that harness proven, trusted systems and technologies from the US and allied nations to manufacture locally in Saudi Arabia.
Commenting on this milestone, Zeigler said: “MASNA Ventures exists to translate technological edge into defense superiority by backing world-leading, trusted U.S. and allied technologies and scaling their manufacture in Saudi Arabia, building the Kingdom's capacity to produce, adapt, and deploy at speed.”
MASNA Ventures is set to support and boost Saudi Arabia's localization goals in the defense sector to help the Kingdom reach its Vision 2030 goals to increase localized defense production to 50% by 2030.
