Sukna Capital targets $100 million for a second venture fund

Sukna Capital is putting together a $100 million venture fund to back startups in Saudi Arabia and the wider region, its head of asset management, Sukhdev Hansra, said at LEAP. It would be the firm’s second venture vehicle, following a $50 million first fund whose capital has already been fully committed. Venture capital provides young companies cash in exchange for ownership stakes, and Sukna’s existing strategy focuses on early-stage technology businesses. The planned fund also fits a broader bet by the Riyadh investor: startups need equity to get moving, but as they mature they will increasingly need loans alongside it—a market Sukna is building through a separate direct-lending fund.