Saudi Arabia-based Sukna Capital has partnered with Partners for Growth (PFG) to launch a $50 million specialty lending initiative targeting high-growth technology companies and SMEs across the Kingdom and wider MENA.
The partnership will expand Sukna’s Sukna Fund for Direct Financing (SFDF), the Kingdom’s first open-ended direct lending vehicle. The fund provides Sharia-compliant, non-dilutive financing solutions such as working capital lines, term loans, and contract financing, helping founders preserve equity while accessing institutional-grade credit.
By teaming up with PFG, a global credit manager with a track record in tailored asset-backed lending, Sukna is introducing multi-lender opportunities to its platform and bringing international lending standards into the Saudi market. “Together, we are providing entrepreneurs with financing that is both flexible and aligned with their growth ambitions,” said Sukhdev Hansra, Head of Asset Management at Sukna Capital.
Andrew Kahn, Co-founder & CEO of PFG, added: “Our approach has always been to listen first, then structure financing that accelerates growth while preserving equity and control. We’re excited to deepen that approach in Saudi Arabia and the broader MENA region.”
For PFG, the initiative builds on five years of operations in the GCC, where it has deployed more than $300 million into companies including Tabby, TruKKer, and Bayzat.
Sukna’s SFDF has already extended a $20 million credit facility to UAE-based fintech OCTA, which automates financial operations and embedded credit for SMEs.
