Saudi-Focused Defense VC MASNA Ventures Targets $100M First Fund

MASNA Ventures has launched what it describes as Saudi Arabia’s first dedicated defense venture capital fund, with a target size of $100 million. The firm is seeking commitments from a mix of U.S. and Saudi investors, positioning the fund at the intersection of Western defense technology development and Saudi industrial localization.

The fund is intended to invest in defense and dual-use technology companies based in the United States and allied countries, with an emphasis on firms willing to establish production or operational footprints in Saudi Arabia. According to the firm, priority areas include unmanned aerial systems, counter-UAS solutions, precision-guided munitions, and artificial intelligence-enabled defense applications.

MASNA plans to build a portfolio of approximately ten companies during the fund’s initial investment cycle. The approach aligns with Saudi Arabia’s broader effort to expand domestic defense manufacturing capacity and reduce dependence on imported military equipment. Saudi authorities have publicly stated an objective of localizing a significant portion of defense spending by the end of the decade.

The fund’s launch comes amid growing defense-industrial engagement between Saudi Arabia and the United States, including regulatory and cooperation frameworks intended to ease market access for U.S. defense firms operating in the kingdom. MASNA’s investment strategy is structured to complement these policy developments by pairing capital with industrial relocation or expansion.

The announcement also coincides with the opening today of the World Defense Show in Riyadh, where Saudi officials and international defense companies are presenting new platforms, industrial partnerships, and localization initiatives.