MASNA Ventures
MASNA Ventures, LLC, or MASNA, is Saudi Arabia's first defense venture capital fund. It is founded by Lucien Zeigler and Nehal Farooqi. The firm launched in 2026 with a target of approximately $100 million for its first fund, backing early-stage defense and dual-use technologies while supporting localization of manufacturing in Saudi Arabia.
Speaking about the firm’s strategy, Zeigler said MASNA aims to “translate technological edge into defense superiority by backing world-leading, trusted U.S. and allied technologies and scaling their manufacture in Saudi Arabia.” In comments to AGBI, he described the fund as structured to align venture investment with Saudi Arabia’s defense industrial policy, noting that localization requirements are reshaping how foreign defense technology companies approach the Kingdom’s market.
He has also emphasized that MASNA is designed not only to provide capital but to help portfolio companies navigate industrial partnerships and regulatory pathways, positioning localization as a strategic growth lever.