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Sukna Capital is an alternative asset management firm based in Riyadh, Saudi Arabia, licensed by the Capital Market Authority (CMA). Founded to address the evolving capital needs of technology companies, Sukna Capital provides access to venture capital, direct financing, real estate, and private equity opportunities. The firm is particularly focused on the MENA region, aiming to support the growth of innovative startups and SMEs.
Currently, Sukna Capital manages a fund size of $107 million, with a specific focus on early-stage investments. The firm operates the Sukna Fund for Direct Financing (SFDF), which targets SAR 400 million for its first year of deployment. Sukna Capital's portfolio includes four notable companies, reflecting its commitment to fostering technological advancement in various sectors.
Sukna Capital invests primarily in early-stage technology companies across a diverse range of sectors, including artificial intelligence, fintech, biotech, defense technology, SaaS, healthcare, logistics, edtech, and e-commerce. The firm is particularly interested in companies that demonstrate significant market opportunities and innovative solutions. Sukna Capital provides non-dilutive growth capital through its Sukna Fund for Direct Financing, which is designed to support high-potential small and medium-sized enterprises (SMEs) in the MENA region.
The investment strategy encompasses various stages, from pre-seed to growth equity, allowing Sukna Capital to engage with startups at different points in their development. The firm emphasizes flexible funding solutions tailored to the unique needs of technology companies, enabling founders to preserve equity while accessing necessary capital. Sukna Capital's approach combines equity and credit strategies to maximize impact and support the growth of its portfolio companies.
Sukna Capital's portfolio includes four notable companies that exemplify its investment focus:
Dr. Shehab Marzban — Chairman of the Board, brings extensive experience in investment management and strategic planning.
Nawaf Jamjoom — Vice-Chair of the Board, has a background in corporate governance and investment strategies.
Fares Bardeesi — Chief Executive Officer and Board Member, leads the firm and is quoted on the SFDF launch, emphasizing the importance of supporting SMEs.
Waleed Alballaa — Managing Partner of Sukna Ventures, oversees venture investments and strategy.
Sukhdev Hansra — Head of Asset Management, responsible for managing the firm's investment portfolio.
Hamzah Nassif — Head of Investment Operations, focuses on operational efficiency and investment execution.
Marvin Liao — IC Observer and Technology Advisor, provides insights into technology investment trends.
Omar Hamdalla — Principal at Sukna Ventures, involved in sourcing and evaluating investment opportunities.
Byung Hoon Yoo — Senior Associate at Sukna Ventures, supports deal execution and portfolio management.
The Sukna Fund for Direct Financing (SFDF) is a key program offered by Sukna Capital. It provides flexible funding solutions for technology companies and SMEs, targeting SAR 400 million for its first year of deployment. The SFDF aims to support high-growth SMEs and tech companies by offering non-dilutive capital, allowing founders to preserve equity while accessing necessary funding.
Eligibility for the SFDF includes technology companies and SMEs operating in sectors such as fintech, e-commerce, edtech, and healthcare. Interested parties can apply through Sukna Capital's official channels, although specific application details are not provided in the content.
In August 2025, Sukna Capital announced an update regarding its portfolio company, Abhi, which successfully launched its earned wage access platform in Saudi Arabia. This move marks a significant milestone for the fintech company.
In June 2025, Sukna Capital highlighted its investment in Buntar-3, a Ukrainian drone technology that utilizes AI for reconnaissance, showcasing the firm's commitment to innovative defense solutions.
Additionally, Sukna Capital has partnered with Partners for Growth (PFG) to launch a $50 million lending initiative aimed at supporting technology and SME growth in the MENA region. This partnership reflects Sukna's ongoing efforts to bridge the financing gap for high-potential companies.
What are Sukna Capital's investment criteria?
Sukna Capital primarily invests in early-stage technology companies across various sectors, including AI, fintech, biotech, and more. The firm looks for high-potential SMEs that demonstrate innovative solutions and significant market opportunities.
How can founders pitch to Sukna Capital?
Founders interested in pitching to Sukna Capital should prepare a detailed presentation that outlines their business model, market potential, and financial projections. While specific application forms are not mentioned, a well-structured pitch deck is essential.
What makes Sukna Capital different from other investors?
Sukna Capital offers non-dilutive growth capital through its Sukna Fund for Direct Financing, allowing founders to access funding while preserving equity. This unique approach sets it apart from traditional venture capital firms.
What is the geographic focus of Sukna Capital?
The firm primarily focuses on the MENA region, with a particular emphasis on Saudi Arabia. Sukna Capital aims to support technology companies and SMEs across the broader MENA market.
What is the typical check size for investments?
While specific equity check sizes are not disclosed, the Sukna Fund for Direct Financing offers credit facilities ranging from SAR 5 million to SAR 200 million, with flexible terms tailored to the needs of borrowers.
What kind of support does Sukna Capital provide to portfolio companies?
Sukna Capital provides strategic insights and operational support to its portfolio companies, helping them navigate the evolving tech landscape. The firm aims to add value beyond capital through mentorship and guidance.
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