Prime Highlight:
- Sukna Capital and US-based Partners For Growth (PFG) have launched a USD 50 million joint venture to provide flexible, Sharia-compliant funding for technology SMEs across Saudi Arabia and the Middle East.
- The initiative empowers founders to access growth capital without giving up equity, supporting innovation and entrepreneurship in the region.
Key Facts:
- The funding will be deployed through Sukna’s Fund for Direct Financing (SFDF), offering non-dilutive credit options such as working capital lines, term loans, and contract financing based on revenue or asset value.
- This partnership introduces international lending expertise and multi-lender options to Sukna’s platform, expanding debt financing opportunities for high-growth tech firms in the MENA region.
Background
Sukna Capital and Partners For Growth (PFG), a US-based lending and management firm, have partnered to initiate a USD 50 million lending venture to develop technology SMEs in Saudi Arabia and the Middle East. The program offers flexible, Sharia-compliant funding and enables founders to maintain equity.
The joint venture will provide working capital lines, contract financing and term loans, and other innovative facilities to address the requirements of growth-stage technology and innovation firms. Funding will be deployed through Sukna’s Fund for Direct Financing (SFDF), an open-ended platform that provides non-dilutive credit based on company revenues or asset values.
Sukhdev Hansra, Head of Asset Management at Sukna Capital, stated, “Together, we are providing entrepreneurs with flexible funding that aligns with their growth objectives. More founders in Saudi Arabia and the MENA region can now access high-quality credit without giving up ownership, helping drive innovation and build value faster.”
The partnership also adds multi-lender options to Sukna’s direct lending platform, bringing international expertise to the region. Sukna Capital, licensed by the Capital Market Authority, provides venture capital, private equity, real estate, and direct financing solutions, while PFG specialises in customised debt solutions for high-growth companies.
This collaboration expands debt financing options for tech SMEs in Saudi Arabia and the wider Middle East, supporting innovation, growth, and entrepreneurship in the region.
